Bregal Milestone, (“Milestone”), a leading technology growth capital firm with c.€1.2 billion of capital raised dedicated to investments in high-growth, market-defining technology companies, announced a strategic growth investment in CUBE Global (“CUBE”), a global leader in Automated Regulatory Intelligence (“ARI”). Terms of the transaction were not disclosed.
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“As a founder-led, category-leading RegTech business, benefiting from powerful regulatory tailwinds and market momentum, we believe CUBE is an innovation leader, and one of Europe’s most exciting high-growth technology companies. We look forward to working with Ben and his ambitious team to further develop their business and drive growth.”
As global regulations continue to rapidly evolve, compliance departments – particularly within larger financial institutions – are finding it difficult to clearly identify applicable requirements and their impact across multiple lines of business, jurisdictions, products, and services. Given large financial institutions are now spending between 10-15% of their operating costs on regulatory compliance each year and fines are in the billions, immediate action is needed.
CUBE’s ARI RegPlatform transforms complex regulatory change management and compliance processes, enabling compliance teams to significantly cut existing costs and move highly skilled individuals up the value chain whilst also reducing risk. By capturing changing or emerging regulations and using AI to automatically enrich and map them to customers’ policies, procedures, and controls, CUBE’s solutions mean firms are alerted to regulations that matter to them instantly. Therefore, freeing up compliance departments to focus on preventing non-compliance and ensuring good governance practices
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“Raising our first institutional investment round from such a high-quality growth capital firm is a significant validation of both our market position and vision. We are thrilled to bring Milestone onboard as a strategic partner and believe they share our vision of helping CUBE become a category defining RegTech leader,” said Ben Richmond, CUBE Founder and CEO. “We selected Milestone as our preferred partner due to their extensive knowledge of our sector and ability support both our organic and inorganic growth plans with significant in-house capabilities through Milestone Performance Partners. We look forward to working with the Milestone team on accelerating our growth and continuing to support CUBE’s customers with market-leading regulatory compliance technology.”
“We are highly enthusiastic to partner with CUBE for this next phase of growth,” added Philippe Lautenberg, Co-Founder and Managing Partner at Milestone. “As a founder-led, category-leading RegTech business, benefiting from powerful regulatory tailwinds and market momentum, we believe CUBE is an innovation leader, and one of Europe’s most exciting high-growth technology companies. We look forward to working with Ben and his ambitious team to further develop their business and drive growth.”
This strategic growth investment will support CUBE’s next phase of expansion by leveraging Milestone’s extensive experience in scaling global technology companies and its in-house value creation team, Milestone Performance Partners. In addition, Milestone will provide ongoing support for CUBE’s further geographical expansion and to extend CUBE’s technology edge for further organic growth.
Milestone’s advisors on the investment included; ICAG Partners for commercial diligence, Alvarez and Marsal for financial and tax diligence, Endava Private Equity Group for technology diligence, Deloitte’s Mid-market M&A Tax team for the transaction structuring, and Goodwin Procter for legal. CUBE’s advisors on the investment included; Investec Bank Plc, who led the advisory, Taylor Wessing LLP for legal, and Buzzacott LLP for financial and tax.
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