.png){kind=logo}
SUCCESS CASE
How a RegTech Company Secured S$60K+ for UK Market Entry
RIC helped a Singapore-headquartered RegTech company secure two MRA grants for UK tradeshow participation and in-market business development.
CATEGORY
Overseas Expansion
CLIENT TYPE
RegTech / digital identity and compliance solutions
GRANT TYPE
Market Readiness Assistance Grant support
FUNDING SECURED
Over S$60,000
About the Client and Project
Client Profile
The client is a Singapore-headquartered RegTech company providing digital identity and compliance solutions. Its platform supports Know-Your-Customer, Anti-Money Laundering, and Ultimate Beneficial Ownership verification for government bodies, financial institutions, and multinational corporations. With operations across Southeast Asia and growing global traction, the company was preparing to expand into the UK and Europe.
Project Nature
The project involved two connected UK market entry initiatives. The first was participation in #RISK Expo 2022 in London, covering exhibition, sponsorship, and a speaking slot to strengthen brand visibility among governance, risk, and compliance stakeholders. The second was an in-market business development project, including outsourced headcount and structured business development planning to establish UK sales pipelines and support enterprise prospecting. Together, the projects combined market visibility, thought leadership, local business development capacity, and structured overseas expansion execution.
Funding Objective and Challenge
Funding Objective
The funding objective was to support the client’s UK market entry under Enterprise Singapore’s Market Readiness Assistance Grant. The first grant helped defray eligible tradeshow participation costs for #RISK Expo 2022. The second grant supported in-market business development activities, including outsourced headcount and structured sales development planning. The funding helped reduce the cost of overseas expansion while enabling the client to build market presence, generate leads, and establish a stronger business development foothold in the UK.
The Challenge
The client was a fast-scaling RegTech company expanding beyond Southeast Asia into major financial markets such as the UK and Europe. Its platform supported KYC, AML, and UBO verification for government bodies, financial institutions, and multinational corporations. The challenge was to structure the UK expansion as two distinct but connected market entry projects: one focused on brand visibility through #RISK Expo 2022 in London, and another focused on on-ground business development through a dedicated UK and Europe market lead. The grant case had to show how the tradeshow, sponsorship, speaking slot, business development resourcing, sales pipeline building, and market entry planning would support credible overseas expansion.
How RIC Supported the Client
RIC supported the client across both UK market entry workstreams.
RIC’s support included:
• Structuring two separate MRA grant applications for UK expansion.
• Scoping the client’s #RISK Expo 2022 participation in London, including exhibition, sponsorship, and speaking slot components.
• Coordinating with GRC World Forums Ltd on event deliverables and cost structuring.
• Ensuring the event participation budget aligned with Enterprise Singapore’s MRA guidelines.
• Structuring an in-market business development project covering outsourced headcount and sales development planning.
• Supporting the client’s plan to engage Deel’s UK subsidiary and recruit a Head of UK & Europe to build sales pipelines.
• Preparing the MRA proposals, budget forecasts, project impact analysis, and staffing justifications.
• Supporting claims submission, documentation collation, audit compliance, and reimbursement processes.
RIC’s role was to help the client move from overseas expansion intent into a fundable and executable UK market entry plan.
Outcome
FUNDING SECURED
Over S$60,000
The client secured over S$60,000 in MRA grant funding for UK expansion initiatives. One grant supported participation in #RISK Expo 2022 in London, with qualifying costs of approximately S$19,500 at 70% support. The second grant supported in-market business development activities in the UK, with total project value exceeding S$140,000 and capped at S$50,000 in grant support. The projects raised brand visibility, launched dedicated UK business development operations, supported the hiring of a seasoned market lead, generated meaningful leads and enterprise discussions, and helped the client pursue UK and Europe partnerships more confidently.
What This Means for Similar Companies
For Singapore technology companies expanding overseas, MRA support is most effective when market entry is structured as more than a one-off trip. This case shows how tradeshow participation and in-market business development can work together: the tradeshow builds visibility and credibility, while local BD resources convert interest into pipeline. Companies entering mature markets such as the UK should plan the event strategy, vendor costs, staffing model, sales development plan, and claims documentation early so the expansion project is both commercially useful and grant-compliant.
