Ancoa
Actionable and insightful analytics for regulators and trade exchanges.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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Ancoa, founded in London in 2010 by Stefan Hendrickx and Andrew Louth, specialized in providing contextual surveillance and analytics for the financial services industry. The firm developed a platform designed to help financial institutions monitor for market abuse and comply with regulations such as the Market Abuse Regulation (MAR). Its client base included exchanges, regulators, asset managers, banks, and brokers. Ancoa generated revenue primarily through three to five-year licensing agreements for its market surveillance platform.
The company's core product was a surveillance platform that aggregated and analyzed data from multiple sources to provide a comprehensive view of trading activity. It processed trading data, electronic communications like email and text messages, financial news, and social media channels to identify potential market manipulation and reduce false positives. The system was capable of monitoring across various asset classes and jurisdictions. A notable feature was the integration with cloud communications platforms to enable the surveillance of voice-initiated trades by recording and transcribing calls for analysis alongside transactional data.
In September 2015, Ancoa secured a Series A funding round of $6.43 million. However, the company faced challenges, and after failing to obtain additional funding, it became insolvent. In May 2017, Ancoa was acquired by Cinnober Financial Technology, a Swedish firm with which it had a three-year partnership. The acquisition was seen as a way to integrate Ancoa's surveillance capabilities into Cinnober's broader portfolio of financial technology for banks, brokers, and exchanges. Subsequently, in a move to bolster its own market infrastructure technology offerings, Nasdaq acquired Cinnober, a deal finalized in early 2019.
Keywords: market surveillance, regulatory compliance, financial analytics, trade monitoring, RegTech, contextual surveillance, market abuse detection, financial technology, capital markets, broker surveillance, exchange surveillance, compliance software, risk management, transaction monitoring, data analytics, electronic communications surveillance, MAR compliance, Cinnober, Nasdaq Market Technology, financial crime, algorithmic trading monitoring, surveillance platform