Vixio Wants to Retire the Compliance Spreadsheet

At Hacksaw Gaming, the rulebook had become a maintenance job. The gambling supplier kept a database of jurisdictions and links to regulations, plus another spreadsheet explaining what each rule demanded. Someone had to check the references, reconcile changes and keep the whole arrangement useful. The system worked only as long as people kept feeding it.

In Vixio’s published customer account, Hacksaw chief technology officer Gabriel Fenech described spending three to five hours a week on that upkeep. After adopting Vixio’s Technical Compliance Tool, he said, the job took minutes. The appeal was recognisable: an outside provider had organised work his team was already doing, then taken responsibility for maintaining the information.

That modest-sounding exchange explains Vixio better than a sweeping promise about artificial intelligence. The company sells regulatory intelligence to businesses whose products cross borders while their obligations remain stubbornly local. Its increasingly ambitious proposition is to connect knowing what changed with deciding who must do something about it.

01The rulebook is a recurring business

Vixio began in 2006 with gambling compliance research. Payments followed in 2015, extending the business into another industry where licences, consumer protections and changing supervisory expectations shape what companies can sell. Preqin identifies David Morgan as its founder. The corporate name remains Compliance Online Limited; GamblingCompliance and PaymentsCompliance came together under the Vixio brand in 2020.

Today, its owner, private equity firm Perwyn, reports more than 500 enterprise customers and 5,000 users. These are professional readers with decisions to make: compliance officers, lawyers, product teams, investors and executives considering a new market. A useful answer might concern a licensing requirement, a technical standard or the commercial prospects of a regulated business.

The economics suit a problem that never stays solved. A 2023 British Private Equity Awards profile reported that annual subscriptions supplied more than 90 percent of Vixio’s revenue during Kester Capital’s ownership. It said annual recurring revenue doubled to approximately £10 million by the exit. Those are historical figures, but they explain the attraction: customers need another year of monitoring when the subscription comes up for renewal.

Kester invested in 2019, backing management and spending on technology, products, sales and marketing. Perwyn acquired Vixio in December 2022; deal adviser Plural reported a 4.8-times return on Kester’s investment. Perwyn’s announced plan was to broaden products and geographic coverage. The ownership sequence puts Vixio in the business of scaling specialist information, with software increasingly doing the delivery.

02A market can look open until you read the requirements

Consider an online gambling supplier evaluating another jurisdiction. Revenue potential is one question. What the game, platform and security systems must do is another. Vixio’s Technical Compliance page currently offers comparisons across 43 jurisdictions and 11 modules. Users select their markets, inspect requirements in a table and follow references back to the original documents.

This is a particular kind of expertise. A general business-news service can report that a market is opening. A technical compliance comparison addresses the details a product team must investigate before treating that opening as a launch plan. Vixio’s wider regulatory coverage is broader than this tool’s coverage; the size of the overall library should never be mistaken for the scope of every module.

The commercial side has its own product history. Vixio launched Data Hub in June 2023 to give gambling companies, investors and advisers a central place for market data and forecasting. Bringing market evidence closer to regulatory research lets a strategy team investigate the prize and the conditions attached to pursuing it. A revenue projection alone cannot answer both questions.

For payments businesses, the audience includes payment service providers, electronic-money institutions, card networks and digital-asset firms. Banking now appears explicitly in Vixio’s offering too. The common purchase is research that helps professionals understand the applicable framework without reconstructing it from scattered websites every time a colleague asks about expansion.

03The customer who checks it like the weather

At Copenhagen-based cross-border payments company Inpay, Vixio has become part of the working day. Camila Witt, its chief risk and compliance officer, uses a wonderfully ordinary comparison: “Checking Vixio is like checking the weather forecast.” Her account describes using the information to assess licensing jurisdictions and market maturity, with decisions reaching product teams and the board.

Her point is less about a single dazzling answer than about a dependable habit. Research collected in one place gives the team time for other work. It also gives colleagues a shared basis for discussion. The customer story describes faster decision-making, rather than a controlled measurement of company-wide productivity.

The American Gaming Association offers a different example. It has collaborated with Vixio for more than a decade on custom research, including State of the States and responsible gaming regulatory reference material. David Forman, the association’s vice president of research, highlights consistency and the value of another team checking the numbers. A small research operation can extend its capacity without recreating the entire production process internally.

EPIC Global Solutions, a gambling harm-prevention consultancy, describes a more concentrated time saving. In an April 2025 announcement, principal consultant Daniel Spencer said research that would take a day could take an hour. Together, the accounts show several jobs for the same research base: keeping advisers current, informing expansion and producing reference publications. They remain customer reports, each measuring its own task.

“

It basically just made our life easier.

Gabriel Fenech
CTO, Hacksaw Gaming

04An alert still needs an owner

The next part of Vixio’s story starts where reading ends. Its Workspace product, launched in 2025, brings collaboration and regulatory tasks into the platform. The company’s May launch event paired a product demonstration with a discussion involving compliance professionals, including DraftKings chief compliance officer Jennifer Aguiar. The subject was the work surrounding the intelligence.

By November, Vixio had announced an enhanced triage inbox and an API for connecting intelligence and workflow to customers’ internal systems. It also announced ISO 27001 certification for information security management. These developments address different buying concerns: how information enters an organisation’s processes, and how the provider manages the security of its own operations.

The present platform describes a sequence from monitoring through identifying relevant changes, assessing their impact, implementing a response and retaining an audit record. Imagine a team receiving a new requirement: someone checks applicability, assigns the response and records the decision. That example illustrates the intended workflow. The quality of the outcome still depends on the people making those calls.

Vixio also sells training, including courses on anti-money laundering and recognising problem gambling. That extends its reach beyond the specialist who reads a regulatory analysis to employees who must change their behaviour. A documented task and a trained colleague solve different parts of the same organisational problem.

05AI has to show its working

Vixio’s VIQ assistant places AI over its proprietary regulatory intelligence. The company describes answers tied to its research and underlying material, rather than an unrestricted search of the web. Users can work toward summaries, reports and tasks, while critical information remains something to verify against official documents.

The distinction matters in this market. A polished paragraph is not enough when a reviewer asks why a requirement applies. In August 2026, Vixio released findings from qualitative interviews with compliance, legal and risk executives. It reported that 65 percent distrusted generic AI for regulatory decisions. That percentage describes its interview group; it should not be read as a census of the profession.

The same release identified Christian Erlandson as executive chair and CEO. Its emphasis on verified information, references, human review and activity records gives a useful view of Vixio’s current priorities. Selling speed is relatively straightforward. Selling an answer that a cautious organisation is prepared to use requires a more demanding conversation.

There is substantial competition for that conversation. CUBE, another regulatory intelligence and change-management provider, completed its acquisition of Thomson Reuters Regulatory Intelligence and Oden at the end of 2024. Vixio’s positioning draws on its concentration in gambling and payments, its specialist comparisons and its long-standing research relationships. Those details give buyers something more concrete to evaluate than competing claims about AI.

06Buy back the upkeep, keep the judgment

For a prospective customer, the most instructive part of the Hacksaw account is the decision to stop maintaining a parallel resource. The practical lesson is to isolate a recurring research job, measure its upkeep and compare the replacement against the original material. Time saved on one job can be tested. A promise to transform the whole compliance department is harder to pin down.

The buying process is sales-led, through a demonstration and a subscription discussion. A useful evaluation therefore starts with the team’s actual jurisdictions, questions and existing tools. Put those into the demo. Ask staff to trace an answer, compare a requirement and follow a task through to completion. Count the internal review and adoption work alongside the subscription when considering the cost.

The approach is less compelling if the necessary market or subject falls outside the purchased coverage, or if staff never adopt the workflow. It also cannot settle every ambiguous interpretation. Organisations still need people who understand their products and can take responsibility for an answer. Outsourcing research maintenance does not outsource accountability.

Vixio’s stated culture stresses partnership, integrity, curiosity and accountability. Its team spans analysts, technologists and regulatory specialists. That combination will matter as it asks customers to use the platform for more of their working day. The spreadsheet is familiar, flexible and already on the desktop. To displace it, Vixio has to keep making the next regulatory task easier to finish.