Top Tier Global Financial Institutions Invest In TAINA’s Latest Funding Round
Deutsche Bank and HSBC Asset Management invest in TAINA Technology
TAINA Technology is delighted to announce that it has closed a substantial funding round led by existing investor Anthemis, welcoming onboard Deutsche Bank and HSBC Asset Management’s Financial Technology Venture Capital Fund alongside its existing investors.
This investment from the two top tier Financial Institutions in TAINA’s award winning regulatory technology platform, further confirms that TAINA is on track on their mission to becoming the golden standard for FATCA, CRS and QI Compliance. This investment also demonstrates that Financial Institutions recognise that tax compliance demands have intensified in recent years and are prioritising investing in leading edge solutions that will automate and streamline the complex FATCA and CRS reporting process.
Investing in selected FinTech solutions will enable Deutsche Bank to improve the client experience and increase productivity by further digitalizing our front-to-bank processes. We are excited to collaborate with TAINA to support our client onboarding in the area of Tax reporting, and look forward to being part of the company’s growth path.” said Joerg Landsch, Head of Central Corporate Venture Capital, Deutsche Bank
“We believe tax-compliance demands will intensify and TAINA’s digital solution is well placed to answer those demands. Tax reporting is complex and good digital design eases the process. This investment round will boost TAINA’s expansion, enhancing its customer footprint internationally.” said Kara Byun, Director, Venture & Growth Investments, HSBC Asset Management.
TAINA Is Growing Internationally
TAINA Technology Limited is growing and plans to expand both their sales and technical development functions of the TAINA team. During 2021 TAINA also strengthened their commitment to both the North American and European market by expanding into Canada and Switzerland. Investing in the growth of the TAINA team, will enable TAINA to add value to more financial institutions and accelerate items on our roadmap.
“We will deploy this fresh injection of financial and intellectual capital to add even more value to our clients, empowering them to transform their customers’ experience whilst driving down their costs and eliminating operational and audit risks.” Maria Scott, TAINA CEO.
TAINA is incredibly grateful to our existing partner Anthemis for leading the latest funding round and for their continued commitment to growing the TAINA solution and company internationally.
“We are incredibly proud to see TAINA welcoming HSBC and Deutsche Bank as new partners. There is no doubt that these partnerships will play a critical role in supporting TAINA in their mission to "fix" compliance and life cycle management for the financial services industry. The latest funding round proves the quality and robustness of TAINA's solution, which, in only three years, has become market leader in its category,” said Marin Cauvas, Principal at Anthemis Group.
Read the full press release here