Russell E. Perry, CEO of kompany.com

Vienna-based corporate venture capital entity, UNIQA Ventures along with Raiffeisen Bank International’s subsidiary Elevator Ventures Beteiligungs have invested in RegTech platform, kompany.

“We have followed kompany’s success story for quite some time – we at UNIQA Ventures are convinced that now is the right time for outstanding RegTech startups to benefit from the digitalization of heavily regulated industries like banking and insurance,” said Andreas Nemeth, CEO of UNIQA Ventures.

Established in 2012, kompany aims to combine AI, RPA and blockchain technology in order to deliver next-generation Business KYC solutions, thereby simplifying and audit-proofing business verification and client onboarding for financial institutions, insurance companies, corporations, and FinTechs. kompany has been a part of the Elevator Lab program- a program that assists scale-ups to collaborate with bank experts across the RBI Group.

The investment in kompany is expected to solve regulatory and compliance issues as well as supplements RBI’s current compliance system.

“More than 18 months of intense product collaboration with RBI as a customer, resulted in extensive market insight and live market adaptation, helping to position us as an internationally recognized RegTech company. We welcome having both RBI and UNIQA join us as shareholders ahead of our upcoming growth funding round, which will enable us to strengthen our AI capabilities and blockchain-based services,” says Russell E. Perry, CEO of kompany.com.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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