Mike Woods, CEO of Konsentus

UK RegTech Konsentus has closed a multi-million-pound Pre Series A financing round led by Mastercard and other existing investors.

Mike Woods, CEO of Konsentus said “The RegTech market is growing at 45%+ per annum and with 9,000+ Financial Institutions in Europe that must deliver PSD2 open banking, the demand for the Konsentus service is significant and this investment will support an accelerated growth plan across Europe. With plans to launch new related services later in 2019 and international expansion in due course, we will be pursuing a Series A financing round in late 2019.”

Founded in 2018 and headquartered in the UK, Konsentus provides identity and regulatory checking services to financial institutions in order to assist them in achieving PSD2 compliance, provides open banking services to their customers etc.

Mastercard’s SVP of Open Banking Jim Wadsworth commented “We see significant potential for the Konsentus service as Open Banking evolves both in Europe and globally. Through its targeted investments in payment technology, Mastercard continues to provide real value in the way it delivers new solutions to its customers and end-users.”

Recently, Konsentus partnered with Norweigan fintech Neonomics, in order to enable Neonomics’ clients in gaining access to Konesntus’ platform as well as enabling PSD2 compliance. The partnership also aimed at assisting the clients in safeguarding their transaction account customers from unregulated or unauthorized third party providers.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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