RegTech startup 6clicks founded by ex-KPMGers ropes in $5 million
6clicks has raised $5 million in a new funding round, adding to $2.2 million raised in July last year. The RegTech startup – founded by ex-KPMG advisors – is eyeing a global expansion drive with the new capital raised.
Melbourne-based 6clicks is a cloud-backed solution focused on automating the entire risk management process – from assessment to compliance. The firm was founded in 2019 by former KPMG partner and chief digital officer Anthony Stevens, in collaboration with ex-KPMG digital consultant Louis Strauss, and Andrew Robinson – founder of cyber security firm TrustyGate.
Months after launching, 6clicks drew a $2.2 capital injection in July last year from “very high-profile Australian business people, with extensive networks and business opportunities” according to Stevens – who spoke to SmartCompany. Half a year on, the firm has raised another capital round – this time worth $5 million.
With over $7 million in its coffers, 6clicks can fuel its ambitions to become “effectfively the operating system for risk and compliance for businesses around the world” per Stevens. This is well on track so far: the startup has already expanded into India, Singapore, the UK and the US. “Some of the leading brands globally have trusted our software.”
So far, the firm’s clientele includes prominent consulting firms such as BDO and King & Wood Mallesons – all of whom are keen to enhance their own client service with 6clicks solutions. And big investors are taking note too.
Among the backers in the latest funding round is Luke Sayers – former CEO at PwC Australia who now runs Sayers, his own investment and innovation business. “I’ve been delighted to be involved with 6clicks as an investor – it’s great to see this talented Australian team be positioned as a leader on the world stage,” he said.
In demand
Helping things along is ballooning demand for the 6clicks proposition. The firm’s customizable solutions are endowed with existing regulatory frameworks; templates and libraries for risk assessment: an app to monitor risk; and a news platform – 6clicks Pulse – for the latest in the regulatory landscape.
A dynamic and volatile global regulatory environment is fuel for this proposition, backed with regtech and compliance technology. “We are looking at a global market of over U$31 billion expected to reach U$88 billion by 2027,” said Stevens. And this was already on the incline before the pandemic.
Hybrid working models, flexible work arrangements and digitalised business operations in response to the pandemic have opened up a minefield of risk hurdles. “When technology becomes more critical to your business and you become more dependent on it, of course things like cybersecurity climb up the priorities list.”
This is in addition to the regulatory grey areas thrown up by the pandemic – which authorities and businesses alike will spend the near and medium term navigating. Situated in one of the world’s largest RegTech hubs, the team at 6clicks is positioned to support this process.
Stevens – CEO at 6clicks – worked at KPMG for over half a decade, making his way up to chief digital officer. Strauss is Head of Products at the firm, building on his background as a product analyst and digital consultant at KPMG over two years. Robinson is 6clicks’ Head of Cyber Security, with a background of more than two decades as an IT security advisor.
