REGULATORY technology startup Tookitaki on Monday said it has raised an additional US$11.7 million for its Series A funding round, bringing the total round to US$19.2 million.
The latest round was co-led by Viola Fintech and SIG, followed by Nomura Holdings through its venture capital arm Nomura Incubation Investment Limited Partnership.
Also joining the round were existing investors Illuminate Financial, Jungle Ventures and SEEDs Capital, an investment arm of the Singapore government.
Tookitaki said the extended Series A round will allow it to enhance its product offerings and drive technological innovation. The funding will also help push recruitment in its Singapore, India and US offices, and bolster revenue growth.
In addition to its US and Europe expansion, the company will also "aggressively expand" its research and development team in Singapore and Bangalore. In doing so, it has appointed former LinkedIn director Subhas Samanta as its vice-president of research and development.
Tomer Michaeli, Viola Fintech general partner, will also join Tookitaki’s board of directors. Viola Fintech is a US$120 million cross-stage venture capital fund that co-invests globally in fintech companies such as Actimize.
In March, Tookitaki raised US$7.5 million in its Series A funding round, led by London-based Illuminate Financial, an early-stage enterprise financial technology investor. Existing backers Jungle Ventures, Enterprise Singapore, Supply Chain Angels, VWX Capital and senior banking executives also contributed to the funds raised.