bankingciooutlook

RegTech Platform kompany Raises $6 Million to Scale Growth

Banking CIO Outlook | Wednesday, August 12, 2020

The new fundraising round directly supports the further development of two key technologies: the AI-based instant shareholder discovery and the fusion of Digital Identity with Business KYC (KYB) for cross-border payments

FREMONT, CA: kompany, the award-winning RegTech platform for Business KYC (KYB) raised €6 million, the company’s most significant single investment round to date. The latest capital from the funding will be used to speed up its growth and expand its new product lines, the AI-based shareholder analysis tool UBO discovery and the DLT-based audit-trail solution KYC onchain.

“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” said Naoki Kamimaeda, Partner at Global Brain.

The financial round was led by Fairway Global Investment together with Global Brain, a major venture capital firm based in Tokyo, Japan, who acted as co-investor. Both are global investors in RegTech, FinTech, and the payment sector and expect their portfolio companies to benefit from kompany’s technological lead in Business KYC (KYB). Existing shareholders, including the European Super Angels Club and the kompany management team, also participated in this round.

“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,” said kompany Founder & CEO Russell E. Perry.

“Our vision is to enable the 5 second cross-border payment with full AML and KYB compliance embedded”, explained 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.”

kompany is an anti-money laundering and Business KYC (KYB) platform which was founded in 2012. It is headquartered in Vienna, Austria and has offices in London, New York, and Singapore

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