GECKO Governance, a regtech blockchain solution based in Ireland, announced on Thursday it secured $1 million in seed investment financing from COSIMO Ventures.
Founded in 2015, GECKO describes itself as a suite of blockchain-integrated products that allows fund managers and banks to schedule all end-to-end compliance and regulatory tasks on a single platform. The company noted it also provides managers and banks with a verifiable, independent audit trail of compliance’s that satisfies global financial regulators.
“From bank stress testing and operational due diligence to fund launches and investor on-boarding, GECKO is the first to offer live oversight of all compliance requirements, resulting in a streamlined, cost-effective solution that vastly improves customers’ operational efficiency.”
GECKO was notably a recipient of the 2016 “Seedcorn Competition,” a European start-up prize, and placed 10th in 2017 in the RegTech 100, a list of the most influential RegTech companies worldwide. While sharing details about the investment, Ciaran Hynes, Managing Partner at COSIMO, stated:
“This investment will help to accelerate the global expansion of GECKO Governance as it pioneers a new market for RegTech in financial services through its Blockchain solution. We are pleased to support this innovative team as part of our investment strategy to build and grow new deep technology companies that offer unique solutions for commercial markets.”
Shane Brett, CEO and Co-Founder of GECKO, also commented:
“Our Blockchain solution is agile and fully customizable, allowing us to integrate with each financial services firm’s systems and set of best practices. Blockchain is the future for regulatory and compliance in financial services, and we are pleased to have COSIMO Ventures’ support as we expand to meet growing demand in this sector.”
GECKO added it will use the capital financing to add staff in all of its offices as it expands technology development and client services.