Italy’s RegTech Startup Aptus.AI Raises €3 Million in Pre-Series Funding
In Brief
Italy’s regulatory technology startup, Aptus.AI, has announced a substantial pre-Series A funding round of €3 million.
Italy’s regulatory technology startup, Aptus.AI, has announced a substantial pre-Series A funding round of €3 million, with Programma 103 by VC P101 Sgr as the lead investor.
Founded in 2018, the startup aims to redefine compliance activities, transcending them from mere obligations and cost centres to levers that generate business opportunities. It aims to accomplish this by fundamentally altering how large organizations, initially focusing on banks and insurance companies, access, consult, and utilize vast volumes of legal documents.
Co-founders Andrea Tesei and Lorenzo De Mattei, both holding PhDs in Computer Science from the University of Pisa, have developed a tool capable of converting legal documents into interactive, machine-readable formats.
For P101 Sgr, a venture capital firm, this marks its inaugural investment in the RegTech sector. Giuseppe Donvito, Partner of P101, expressed excitement about the collaboration, citing interest from banking and insurance institutions in the product.
“We are very proud to count an important player like P101 among our investors and equally grateful to the Fin+Tech accelerator of CDP Venture Capital, which has been decisive in our growth, renewing and reinforcing its confidence along with other shareholders who have supported us from the beginning,” said Aptus.AI’s co-founder and CEO, Andrea Tesei.
“We are determined to uphold the Italian flag in a sector like regtech, which is proving increasingly important and strategic internationally, enabling large organizations to develop their offerings rapidly and correctly, thus remaining competitive and benefiting end consumers and the socio-economic fabric. By combining AI for data extraction with generative AI, our solution can achieve a very high level of precision in responses even for a complex and nuanced field like the legal one, with extraordinary positive impacts,” Tesei added.
Moreover, the startup uses AI for data extraction combined with generative AI. According to Andrea Tesei, co-founder and CEO of Aptus.AI, this unique combination allows their solution to achieve an unprecedented level of precision in responses, even in complex and nuanced fields such as law.
“We are determined to uphold the Italian flag in a sector like regtech, which is proving increasingly important and strategic internationally,” said Tesei. “By combining AI for data extraction with generative AI, our solution can achieve a very high level of precision in responses.”
Founded just five years ago, Aptus.AI has gained traction in the market, securing prestigious clients including Intesa Sanpaolo, Generali Investments, and MPS.
The Future of RegTech and Aptus.AI’s Role
In the last 15 years, the financial industry has undergone a profound transformation, marked by the rise of fintech and increased regulatory norms. The RegTech market is estimated to reach $15.6 billion between 2022 and 2027, with a remarkable compound annual growth rate (CAGR) of 21.18%.
Aptus.AI, with its Daitomic platform, addresses a critical challenge in compliance adjustment – the absence of legal documents in machine-readable formats. This innovation enables the creation of efficient tools for interactive regulatory consultation, automatic notifications, legal inventory management, and instant impact analysis.
As Aptus.AI secures this pre-Series A funding, it wishes to cement its position as a leader in the regtech space and wants to position itself for further growth. The company’s vision of transforming compliance activities into business opportunities resonates with investors and major industry players.
With the international regtech sector gaining prominence, Aptus.AI is poised to play a pivotal role in the evolving landscape, benefiting both end consumers and the socio-economic fabric.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
