Home PC News RegTech Platform kompany Accelerates Growth With New Funding

RegTech Platform kompany Accelerates Growth With New Funding

New buyers in kompany, the Anti-Money Laundering & Business KYC (KYB) platform, carry whole raised to €14 million

LONDON & VIENNA–(BUSINESS WIRE)–August 5, 2020–

kompany, the award successful RegTech platform for Business KYC (KYB) introduced right now new funding of just about €6 million, the corporate’s largest single funding spherical thus far. It will use the brand new funding to speed up progress and develop its new product strains, the AI-based shareholder evaluation instrument UBO discovery® and the DLT-based audit-trail answer KYC onchain.

This press launch options multimedia. View the total launch right here: https://www.businesswire.com/news/home/20200804006091/en/

kompany Management Team. Pictured (from left to right): Russell E. Perry, Founder & CEO; Andrew Bunce, Chief Product Officer; Johanna Konrad, Chief Operating Officer; Peter Bainbridge-Clayton, Founder & CTO; (Photo: Business Wire)

kompany Management Team. Pictured (from left to proper): Russell E. Perry, Founder & CEO; Andrew Bunce, Chief Product Officer; Johanna Konrad, Chief Operating Officer; Peter Bainbridge-Clayton, Founder & CTO; (Photo: Business Wire)

Growth Funding Round
Fairway Global Investment led the spherical, along with Global Brain, a significant enterprise capital agency primarily based in Tokyo, Japan, who acted as co-investor. Both are world buyers in RegTech, FinTech and the cost sector and anticipate their portfolio corporations to profit from kompany’s technological lead in Business KYC (KYB). Existing shareholders, together with the European Super Angels Club and the kompany administration staff additionally participated on this spherical.

“kompany’s Business KYC services have been shown to bring significant efficiency gains for their clients and are particularly relevant to our investments in the payments sector and also our corporate partners. We look forward to leveraging this new partnership with kompany to support our other portfolio companies and partners” stated Naoki Kamimaeda, Partner at Global Brain.

“The smart money understands that RegTech is about turning the burden of compliance into a competitive advantage by enabling customers to drastically reduce client onboarding times by 90% and by completely digitizing the process and customer experience,” acknowledged kompany Founder & CEO Russell E. Perry.

RegTech – a €55 billion trade by 2025
The kompany staff has doubled within the final 12 months to outpace the brand new regulatory realities of extremely enforced Anti-Money Laundering regulation in Europe (AMLD 4&5) and the pending US AML regulation. Additionally, in wake of the Covid-19 stimulus measures, governments are pumping trillions into the worldwide financial system. This has inadvertently triggered a market rush to quickly digitize and automate previously guide compliance processes.

As a end result, market curiosity has seen the worth of kompany’s gross sales pipeline enhance to an eight-figure quantity within the final twelve months. “The current market and regulatory situation warrant a far more automated, audit-proof business verification with an exponentially lower margin of error, as compliance risks have never been higher, and clients increasingly move to seamless digital services.” Johanna Konrad, COO of kompany, highlighted.

John Vorrias, Chief Investment Officer at Fairway Global Investment added: “RegTech generally, and kompany specifically has the potential to be a game-changer in terms of the broad use-case applications across multiple industries and segments. And kompany operates the only real-time proprietary global register network that connects to primary source commercial registers and financial & tax authorities in over 200 countries and jurisdictions.”

The new fundraising spherical immediately helps the additional growth of two key applied sciences: the AI-based prompt shareholder discovery and the fusion of Digital Identity with Business KYC (KYB) for cross-border funds.

“Our vision is to enable the 5 second cross-border payment with full AML and KYB compliance embedded”, defined Russell Perry. “If you have ever wondered why an international bank transfer can take hours or frequently even days to post – it is directly linked to regulatory requirements and our platform replaces those legacy practices.”

About kompany
kompany is the main RegTech platform for Global Business Verification and Business KYC (KYB) for AML compliance. Its superior API platform and collaborative web-based KYC workspace present monetary establishments, cost suppliers, insurers and different regulated companies the automation platform and instruments required for Business KYC (KYB) and audit-proof enterprise verification for anti-money-laundering compliance. Clients embrace world and worldwide banking teams, FinTechs, Big Four accounting corporations, legislation corporations, Banking-as-a-Service and compliance platforms, in addition to multinational companies.

kompany is an alumnus of Mastercard Startpath, Plug and Play FinTech, Raiffeisen Bank International’s Elevator Lab, the Oracle Scale Up programme and founding member of the International RegTech Association and the Austrian Blockchain Association.

It is headquartered in Vienna, Austria and has workplaces in London, New York, and Singapore. kompany is a authorities licensed clearing home and official distributor for industrial and enterprise registers in lots of international locations worldwide. Find out extra at kompany.com, or comply with on LinkedIn.

About Fairway Global Investment
Fairway Global Investment is an unbiased Swiss Asset Manager and Multi Family Office primarily based in Zurich. It presents an revolutionary Spectrum of Services for discerning Private Clients, Entrepreneurs and Families with complicated Assets and Holdings, while totally understanding its shoppers’ wants, expectations and collectively elaborating long-term options. Find out extra at fwgi.ch.

About Global Brain
Global Brain helps startups that sort out quite a few issues, create innovation, and contribute to the stimulation of the Japanese financial system. Its high-achieving, skilled professionals establish glorious startups by way of a number of world places and supply hands-on progress help. The whole asset beneath administration is greater than US$1 billion, making it the biggest home unbiased enterprise capital agency. To be taught extra go to globalbrains.com.

For additional data please contact:
Paul Foster
[email protected]
+ 43 660 725 8371

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