28 September 2020 – Zelig is pleased to announce that it acted as exclusive financial adviser to Acin, the London-based data standards firm that is digitising operational and non-financial risk, on its $12 million Series A funding round.
The funding round was led by leading European SaaS investor Notion Capital, which will work closely with Acin to drive rapid growth, and supported by Fitch Ventures, the investment arm of the US-based Fitch Group, a global leader in credit ratings and research. Other new and existing investors include Cris Conde (former President & CEO of SunGard), Christopher Carter (Chairman of Artorius Wealth Management and former Vice Chairman – Institutional Securities at Morgan Stanley) and Carlos Gonzales-Cadenas (COO at GoCardless and ex SkyScanner CPO).
The funding will enable Acin to rapidly accelerate its proposition, by continuing to enhance its cloud-based Terminal with additional inventories of risks and controls, software extensions and integrated benchmarking. This will provide financial institutions with a complete front-to-back-office solution to assess and manage their operational and non-financial risks. With extensive applications beyond financial services, Acin will expand its solution into further sectors over time.
Working with 14 tier-one banks, Acin revolutionises the way these organisations manage their operational and non-financial risk and controls through a standardised, industry-wide library, and a first-of-its-kind Network that facilitates collaboration between members.
“The need to digitise operational and non-financial risks is now more important than ever for the financial services sector, with the Covid-19 crisis shedding fresh light on the need for data to manage existing and emerging risks. We are seeing a collective desire from the industry for a solution built on collaboration and sharing of information and Acin’s approach is transformative in its ability to deliver this. This funding will enable us to accelerate our growth to meet the demand and needs of our clients.”Paul FordCEO and Founder, Acin
“Numerous billion-dollar tech companies have been created in Market and Credit Risk but Operational Risk remains underserved, with static data and antiquated processes and systems. As such Acin’s ground-breaking platform is addressing one of the largest ‘white space’ opportunities in the overall risk landscape and their client list is a testament to the strength of their offering. We at Notion are delighted to be supporting them on their journey to define and lead this category.”Stephen ChandlerManaging Partner, Notion
Acin is the leading risk and control data standards, benchmarking and controls data analytics company. Acin enables firms to standardise non-financial risks and controls, improve efficiency and reduce the cost of their risk and control operating model.
Acin’s solution has received widespread industry recognition, including multiple awards wins such as the IIRSM Risk Excellence Award 2020, and has been named as one of the most innovative RegTech companies in 2019 and 2020.
Zelig is an independent investment bank focused exclusively on FinTech. With a presence in London, New York, Toronto, Munich, Tel Aviv, Singapore and Hong Kong, we provide financial and strategic advisory services to entrepreneurs, corporates and investors operating in the FinTech sector globally. For further information on Zelig, please visit https://www.zeligassociates.com