Kore Labs raises £2.4m from Wealth Club members to support expansion.
The RegTech platform secured the oversubscribed funding under the Enterprise Investment Scheme.
Kore Labs provides a software platform designed to help financial institutions navigate complex regulatory compliance and product lifecycle management. The business has generated revenues since launch and counts major European banking groups among its clients.
RegTech platform Kore Labs has secured just under £2.4m in an oversubscribed funding round from Wealth Club members. The capital will support the company as it maintains rapid growth and expands into new markets.
The investment arrives as financial institutions grapple with regulatory changes, notably the FCA Consumer Duty, which requires comprehensive audit trails across product lifecycles. Kore Labs offers a digital platform that centralises fragmented data to streamline compliance and operations.
Led by experienced industry figures, the company has doubled its revenues year on year since inception. The latest injection of capital will fuel its continued development and market presence.
From the founder
"Having worked in financial services for more than 30 years I am only too familiar with the challenges new regulation brings. Providing a full audit trail for the entire lifecycle of every financial product a company offers is a very complex task, which legacy technology systems cannot easily cope with. The Kore platform solves this issue. It is quick to implement with a light-touch integration, helping our customers stay compliant while significantly streamlining operations and reducing costs. We are operating at the forefront of a problem that is unseen by most but affects us all. The fantastic response from Wealth Club clients and the support Wealth Club has provided will enable us to continue our rapid growth, supporting our mission to transform product management in a way that is having a meaningful impact on both the financial services industry and society."
Sabrina Del Prete
CEO at Kore Labs
Investor perspective
"Kore is an exceptionally promising company. Its technology has become 'mission critical' to financial institutions dealing with regulatory change and the company is managed by highly experienced industry leaders who collectively have deep relationships with many leading banks, insurance companies and wealth managers. Sabrina’s vision and insight, combined with impeccable timing, has propelled Kore towards rapid adoption and a fast-growing stream of recurring revenues. A great example of a commercially compelling EIS investment capable of delivering outstanding returns. Wealth Club members were quick to see Kore’s huge potential, as were we."
Gayle Bowen
Director of Direct Investments, Wealth Club
Use of funds
- 01Expand into international markets
