Press Release

RegTech Innovator GSS Secures $47 Million in Series A2 Funding Round

March 25th 2024

-GSS has raised over $47m /£37m in a Series A2 Funding Round

-John Fogarty joins the GSS board as the company attracts investment from Commonwealth Bank of Australia alongside previous investors

-Previous investors include AlixPartners, The Cynosure Group and MUFG

London, 25 March 2024 - Global Screening Services (GSS), a leading RegTech pioneer, announces the successful completion of its Series A2 funding round, raising over $47 million (approximately £37 million). Notable contributors include AlixPartners, Cynosure Group, and the latest addition, Commonwealth Bank of Australia (CBA).

This significant investment coincides with the company's transition from the development phase to the operational phase as the cloud-native platform prepares to go live with its inaugural clients.

Exciting Collaborations and Future Prospects

GSS has received significant support from existing investors, who continue to place confidence in the company's potential and progress to date. The shareholder base includes two major financial institutions, MUFG and CBA, reflecting the industry’s recognition of GSS' potential to transform compliance standards.

GSS will continue with its uniquely formed Advisory Board with more than 30 global financial institutions. The board have worked together since 2021 to create a common technology framework and agree standards for the financial sector. This will help enhance compliance and processing efficiency across the industry.

This funding milestone marks a pivotal moment for GSS as it officially transitions into operational mode, putting its progressive RegTech solutions into action.

For full press release, click here.

1. This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith and any related legal, tax, accounting, or other material considerations. To the extent that the reader has any questions regarding the applicability of any specific issue discussed above to their specific portfolio or situation, prospective investors are encouraged to contact The Cynosure Group or consult with the professional advisor of their choosing.
2. Except where otherwise indicated, the information contained in this presentation is based on matters as they exist as of the date of preparation of such material and not as of the date of distribution or any future date. Recipients should not rely on this material in making any future investment decision.
3. Certain information contained herein constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events, results, or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Nothing contained herein may be relied upon as a guarantee, promise, assurance or a representation to the future.
4. Specific investments described herein do not represent all investment decisions made by Cynosure. The reader should not assume that investment decisions identified and discussed were or will be profitable. Specific investment advice references provided herein are for illustrative purposes only and are not necessarily representative of investments that will be made in the future.
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