Nov 1 (Reuters) - Droit, a financial technology companywhose software helps improve compliance in derivatives trading,said on Tuesday it has raised $16 million from investors,including Goldman Sachs Group Inc, Wells Fargo & Co and trading firm DRW Holdings.
The investment comes as banks are looking for new ways touse technology and data to comply with regulations enacted sincethe financial crisis.
New York-based Droit said in a statement that its softwarehelps ensure that trades are compliant with rules acrossdifferent geographies and legal jurisdictions.
Droit was founded in 2012 by former derivative traders,quantitative analysts and technologists at UBS Group AG, Barclays PLC and Morgan Stanley
Droit said venture capital firm Pivot Investment Partnersalso participated in the funding round, which will support theopening of an office in Singapore and an expansion of sales andmarketing.
(Reporting by Olivia Oran in New York; Editing by Dan Grebler)