FundApps and SteelEye Merge to Form Unified RegTech Compliance Platform
- Kendrick Wakeman, CFA
- 2 days ago
- 1 min read
FundApps and SteelEye have announced their merger, creating a combined RegTech firm offering end-to-end compliance capabilities across the buy and sell sides. The transaction, backed by an additional equity investment from FundApps investor FTV Capital, aims to deliver a single solution that integrates surveillance, monitoring, reporting, and analytics into one comprehensive compliance platform. The merger brings together FundApps’ regulatory reporting expertise and SteelEye’s trade and communications surveillance tools to provide greater transparency, automation, and control for financial institutions.
The unified business will serve 350 clients spanning asset managers, hedge funds, banks, and commodities firms across 18 countries, with combined annual recurring revenue of nearly £50 million. FundApps founder and CEO Andrew Patrick White described the merger as “a transformative step” that eliminates the fragmentation of compliance technology by consolidating key capabilities under one roof. SteelEye CEO Matt Smith highlighted the firms’ shared goal of “empowering financial institutions through data-driven innovation,” noting the global scale the partnership enables.
This merger directly advances the Enhanced Outsourced Compliance theme in WealthTech, which points to a growing demand for scalable, technology-enabled compliance services. As RIAs and financial institutions look to outsource not only consulting but also real-time surveillance and regulatory monitoring, the FundApps–SteelEye combination provides the scale and integrated infrastructure needed to deliver on that vision.