Adclear, a regtech startup, has bagged £510,000 in pre-seed funding from Haatch, Force Over Mass and Founders Capital to expand its compliance automation services for fintech businesses.
The company’s AI-driven platform aids fintechs in adhering to Financial Conduct Authority (FCA) regulations, focusing on areas like investments and crypto.
Its technology streamlines the compliance review process, reducing the time and resources spent on marketing compliance, and is planning to enhance its services further to cover additional global regulatory standards. Fintech brands including Plum, Creditspring and Trade Nation have adopted Adclear’s AI-powered platform
With the new funding, Adclear is set to further develop its AI capabilities, grow the team and consolidate the UK market. The company will also the funding to extend its compliance coverage to EU and US regulatory frameworks, positioning itself as a ‘comprehensive solution for global financial brands managing multi-channel campaigns across different regulatory regions’.
“This funding round will accelerate our product development and market expansion,” said Doni Hoti, co-founder of Adclear. “We’re committed to helping fintech businesses navigate the complex world of marketing compliance, allowing them to focus on innovation and growth while ensuring regulatory adherence.”
Adclear’s focus
In 2023, the FCA’s Consumer Duty and stricter investment controls aimed to improve consumer protections, with AI-enhanced monitoring increasing promotional scrutiny. Companies in the financial services market face challenges balancing growth with compliance, often hindered by time-consuming manual reviews that slow progress and strain teamwork.
Adclear seeks to streamline these processes with real-time, tailored compliance evaluations that provide instant feedback. By automating workflows on a single platform, Adclear aims to reduce the need for disjointed tools, potentially enabling scalable compliance. The company reports that its platform has helped Plum reduce its marketing compliance process from days to hours, efficiently managing thousands of promotions.
“The financial services sector is experiencing unprecedented regulatory scrutiny around marketing compliance, and what impressed us about Adclear was their practical approach to solving a real pain point that’s costing fintechs millions in delayed campaigns and compliance overhead,” Martijn de Wever, CEO and founder of Floww and founder and general partner at Force Over Mass, also added.
