Regtech startup Alyne raises €3 million to help organisations manage their data privacy and compliance
Regtech startup Alyne has raised €3 million in a Series A financing round led by Alstin Capital, with participation from Hannover Digital Investments GmbH. Founded by Karl Viertel, Stefan Sulistyo, Manuel Reil, and Matthias Danner in 2015, Alyne is headquartered in Munich, with offices in London and Melbourne.
Alyne’s Governance Risk Compliance (GRC) platform stands to revolutionize the way organizations develop their cybersecurity, data privacy, risk management, and compliance capabilities. Alyne’s curated and customizable compliance content library, data-rich analytics and reporting, and their user-friendly platform help companies to navigate complex and ever-evolving regulatory environments while keeping costs low.
The investment brings Alyne’s total funding to a total of €4.2 million and will be used to scale its operations and expand its customer base. The startup already counts among its customer's industry leaders such as Barclays, Deloitte, Allianz, and Solarisbank.
Alyne’s new investors reflect an increasing interest in regtech as the industry grows. Regtech is on track to attract over €4.4 billion in funding over a five year period, according to CB Insights, and it is estimated that the industry will be worth over €88.5 million by 2020.
Carsten Maschmeyer, the Managing Partner of Alstin Capital, said: “This investment gives us access to a huge regtech opportunity with the leading player in the game. Alyne’s innovative technology and unique model represents the first scalable digital solution in a sector that is extremely ripe for disruption. In addition to capital, we will provide Alyne with support in sales, marketing, and strategy to take their business to the next level.”
Karl Viertel, CEO at Alyne, said: “These investments will help us to meet the phenomenal demand for our products in the market. Having investors of this stature on board gives us access to a wealth of expertise strategy, operations, and innovation that will prove invaluable as Alyne enters the next stage of growth.”