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Technology/Internet

Goldman, Wells Fargo Help Fund Compliance Fintech Firm

November 1, 2016

[Photo: Twentieth Century Fox Film Corporation]

 

Droit, a NY-based financial technology company whose software helps improve compliance in derivatives trading, said it has raised $16 million from investors - Goldman Sachs, Wells Fargo and trading firm DRW Holdings. The investment comes as banks are looking for new ways to use technology and data to comply with regulations enacted since the financial crisis.

 

Droit, which was founded in 2012 by former derivative traders, quantitative analysts and technologists at UBS Group, Barclays and Morgan Stanley, says that its software helps ensure that trades are compliant with rules across different geographies and legal jurisdictions.