Cyril McGuire, Founder of software company Trintech and a Non-Executive Director on the Corlytics board, will continue in his role, while his Infinity Capital fund has also invested for a minority equity stake in Corlytics.
Corlytics has grown 60% per annum since 2020, according to a press release, predominantly driven by its core regulatory compliance products, while the provider’s customer numbers roughly doubled during the same period.
Last year, Corlytics acquired ING SparQ in January and Clausematch in July in building a platform that manages the regulatory risk value chain on a global scale.
In a press statement, John Byrne, Founder and CEO of Corlytics, said: “Corlytics has successfully progressed in developing new products to further improve our value proposition to tier 1 clients globally. This investment from Verdane ensures the continued growing market leadership for Corlytics.”
Nils Vold, Partner at Verdane, commented, “We are an active and experienced investor in the regtech sector and we identified Corlytics as the global category leader in its field, helping banks and financial services companies manage their compliance obligations in a complex and fast-changing environment.”
Terms of the transaction have not been disclosed.
Verdane was advised by Trinity Square, Burness Paull, McKinsey, Deloitte and PwC. Corlytics was advised by Baird, Dentons, Liberty and BDO.
