RegTech trailblazer GSS obtains revolutionary $47 million Series A2 funding

A notable collection of investors, including the Commonwealth Bank of Australia (CBA), together with prior backers like AlixPartners, The Cynosure collection, and MUFG, have given this large financial infusion.

GSS is at the forefront of RegTech, having developed a cloud-native platform that seeks to reshape regulatory compliance requirements worldwide. GSS, which was developed under AlixPartners' incubator, uses cutting-edge technology to improve financial institutions' compliance procedures. This occurs at a crucial moment when these banks are dealing with increasingly complex sanctions management and cross-border payment scenarios. The goal of GSS's platform is to serve as a cooperative center that links industry partners and financial institutions in order to increase the accuracy and efficiency of transaction screening procedures.

The current funding infusion is intended to support GSS's audacious plan to transform regulatory compliance globally. Through its Advisory Board, GSS seeks to promote cooperation among more than thirty international financial institutions in order to create a new standard and common technology framework that would increase processing efficiency and compliance in the financial industry.

As he expressed his excitement about the road ahead, GSS CEO and co-founder Tom Scampion said, "GSS is uniquely positioned to deliver improved regulatory compliance and an enhanced customer experience." We're thrilled to have completed this investment round and to be bringing GSS to market with such amazing partners.

Beyond just financial investment, CBA is also involved. John Fogarty, on the board of GSS, represents the bank's dedication to using GSS's solutions to fight financial crime and improve the effectiveness of international payments.

The Cynosure Group's chairman and co-founder, Randal Quarles, also commented on the investment, emphasizing the development since their original support and the expected influence of GSS on the sanctions screening sector. As the financial advisor for this investment round, Ancoris Capital Partners was crucial in enabling the smooth conclusion and ensuring that GSS and its contributions to the RegTech industry have a brighter future.