London RegTech platform raises £1.6m as it aims to democratise local legislation
A London RegTech platform has raised £1.6m in funding from several European investors.
Kamma’s additional funding comes after its identification of a £2.3bn opportunity which they hope will mean more effective compliance in the private rental sector.
Kamma, which was launched in 2018 and has raised a total of £2.2m since its inception, will use the funding to advance the build of its global search engine for local legislation. Its proprietary technology claims to detect, cleanse, and aggregate huge volumes of regulatory information, with the aim of helping businesses to comply with local laws.
At the same time, the funding will support Kamma’s mandate to tackle property law in the UK.
Orla Shields, CEO and co-founder of Kamma, said: “Our vision is for a world unencumbered by disparate information and our property licensing product is a clear example of how we help businesses stay compliant, save time, save money while raising housing standards at the same time.”
She continued: “Our guiding principle is to make renting safer for everyone and with more people working from home, and a correlation between housing overcrowding and the faster spread of COVID-19, property compliance is of huge importance.”
The latest round of funding was led by Triple Point and included investment from proptech VC company Pi Labs and M7 Structura.“
Esha Vatsa, principal at Pi Labs said: “Kamma is a clear example of how technology can provide real solutions for issues in the real estate industry. Through its innovative platform Kamma has digitised a complex and time-consuming task for agents, lenders, investors, mortgage brokers and local authorities.”
She continued: “Our investment will help Kamma further strengthen their position in the market and shine a light on the importance of property compliance, as we look to a more agile work style in the future.”
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