London RegTech Detected has announced its expansion into the US market.
The company, which provides a global end-to-end KYB (know-your-business) platform, has established a US entity to better serve its American clients.
Detected was third on our sister publication BusinessCloud’s RegTech 50 ranking last year.
One agreement with Detected gives access to a global network of data providers as well as a user interface which allows collection of information directly from business owners. This information is then automatically connected in the Detected platform to create an up-to-date business profile.
Heading up Detected’s US operation is Austin Grimes, head of global partnerships. Grimes, who is based in the US, will work closely with the company’s American partners, including Thomson Reuters.
CEO Liam Chennells will continue to split his time between the US and London.
“We are excited to expand our services to the US market,” said Chennells, who launched the business in July 2020.
“It is notoriously difficult for UK businesses to ‘make it’ in the US but we are going to do the same as we have always done, focus on the value the technology we have built delivers for our clients.”
Detected recently secured £2.5 million of funding from Thomson Reuters Ventures, Love Ventures and industry angels, taking its total seed round to £6m.
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