Relace raises $1.6M pre-seed for financial regulatory management
Boost Capital Partners leads funding for engineering, regulatory coverage and a commercial team serving financial firms.
London-based Relace has raised $1.6 million in pre-seed funding led by Boost Capital Partners, with participation from Ascension, Koro Capital and angel investors including Onfido co-founder Husayn Kassai.
The company will use the money to hire engineers, deepen coverage of UK, EU, US and Middle Eastern regulation, and build its commercial team. Its platform translates rules into obligations for individual financial businesses and links assessments to the rules behind them.
Relace is also participating in the FCA’s Supercharged Sandbox, with work focused on Consumer Duty. The programme provides an environment for testing AI; participation does not amount to regulatory approval of the product.
Use of funds
Hire engineers
Deepen financial regulatory coverage
Build commercial team