VoxSmart secures £18.2m in growth equity led by Toscafund Asset Management to expand its surveillance technology.
The funding round was led by Toscafund Asset Management with support from Deepbridge Capital, and will fund international expansion and product development.
VoxSmart provides cloud-based mobile recording and communications surveillance technology for global financial institutions. The firm operates across six countries, serving over 100 clients with regulatory compliance and risk management tools.
London-based communications surveillance provider VoxSmart has secured £18.2m in growth equity financing led by Toscafund Asset Management, with continued participation from Deepbridge Capital. The funding follows increased demand for cloud-based compliance tools as remote working becomes standard practice for financial institutions.
The capital will be directed towards international expansion into North America and emerging markets. Additionally, the company plans to fund product development, including enhanced capture capabilities for channels such as Telegram and Signal alongside improved employee risk analysis.
The transaction marks one of the largest fundraises in the RegTech and compliance sector, negotiated virtually during the pandemic.
From the founder
"As market practitioners we have always been acutely aware of market developments and working with market participants to shape our product development and innovation. As such it was important, we found a partner who shared our vision within financial services. We believe that Toscafund’s global expertise and impressive market connectivity will be of tremendous benefit to VoxSmart in our next stage of growth."
Oliver Blower
CEO at VoxSmart
Investor perspective
"With this investment, Toscafund has assembled an extremely attractive portfolio of fast-growing businesses that are all contributing their technological skills to the digitization and evolution that is currently taking place in the financial services sector. The opportunities to invest in this fundamental industry shift are hugely attractive for those with sufficient experience to recognise the genuine leaders in the space. We look forward to working with Oliver and his team."
George Koulouris
Partner, Toscafund Asset Management
Use of funds
- 01Expand into international markets
- 02Continue product development
