RegTech TAINA secures funding from HSBC and Deutsche Bank

By Gloria Methri

London-based RegTech TAINA Technology has successfully raised another round of funding with participation from HSBC and Deutsche Bank. Other investors include SIX FinTech Ventures and Anthemis.

In the first quarter of 2023, TAINA looks forward to welcoming other top-tier global financial institutions as investors and clients, with details to be disclosed in due course.

TAINA CEO Maria Scott said, “With this new injection of very supportive capital, TAINA is looking forward to achieving a number of objectives on its mission to grow as the Best-in-Class Platform for the industry, for an expanding range of Regulations, Geographies, and Market Segments”

The company’s last funding round helped TAINA scale over the year 2022. The company’s FATCA and CRS Validation Platform has been upgraded to include new value add market-leading capabilities, the firm claims.

TAINA states that financial institutions are under growing cost pressure, and customers are increasingly judicious about their customer experience with financial institutions’ platforms. The company sees increasing RegTech adoption across the financial industry, with purchases of best-in-class solutions by some of the largest financial firms.

Joerg Landsch, Head of Central Corporate Venture Capital, Deutsche Bank said, “We are delighted to participate in TAINA’s latest funding round as a follow-on investment and continued commitment to support the company in strengthening regulatory client lifecycle management in the industry. Investing in selected FinTech solutions enables Deutsche Bank for example to improve the client experience and increase productivity by further digitalizing our front-to-bank processes.”

Kara Byun, Head of Fintech, Venture & Growth Investments, HSBC Asset Management added, “HSBC Asset Management is a firm believer in the principle of adhering to the highest standards of regulatory compliance. TAINA is well on its way to establishing a standard for experience in this space. Tax reporting and compliance are unavoidably complex, but TAINA’s digital design makes the process seamless. This investment round will help boost TAINA’s international footprint and support TAINA’s mission to provide pre-eminent tax-compliance solutions to more users.”