back Back

Encompass Corporation raises £25m in funding to accelerate global growth

By Joy Dumasia

March 14, 2022

  • AML
  • Compliance Risk
  • Due Diligence
Share
GFIA-HB

Encompass Corporation, the provider of intelligently automated Know Your Customer (KYC) solutions, announced the completion of a successful capital raise of £25 million. 

Perennial Partners, a major Australian investment management company, served as the lead investor, joined by financial services focused principal investing firm Serendipity Capital, Seven Seat Capital, and FinTech investment firm Microequities Asset Management. 

There were also follow-on investments from several existing shareholders, including Alan McIntyre, former Global Head of Banking Services at Accenture, Tim Frost, ex-Chairman of IHS Markit, and experienced technology investor Ray Scott. 

Encompass’ capital raise will be used to accelerate its growth globally, which has included office openings and extensive recruitment in New York and Amsterdam. The raise will also facilitate ongoing product innovation and development, undertaken from three main engineering centres in Sydney, Belgrade, and Glasgow. Encompass’ expansion will help it to meet the needs of existing global customers better, as well as to continue to onboard renowned financial institutions as it increases its international footprint. 

The raise follows twelve months of significant growth in revenue, new accounts, and specialist industry experts to the business’ teams across the UK, Europe, Asia-Pacific, and the US. 

Roger Carson, Co-Founder at Encompass, commented: “Today’s funding will help fuel Encompass’ rapid global expansion, especially as we make inroads in North America, with operations driven from New York, and continue to expand our presence in Europe. Expanding to new markets will add greater value to our business in a way that better serves existing customers and attracts additional global banks as new customers. We are excited to have new and existing investors support Encompass’ acceleration, expansion and vision to continue to be recognised globally as the leading provider of automation to the corporate KYC due diligence market.” 

Sean Harpur, Co-Founder at Serendipity Capital, said: “Encompass’ successful funding represents the increasing value of solutions that digitise and automate regulatory screening and due diligence for the corporate KYC market. Designed to help banks simultaneously create a better customer experience and mitigate compliance risk at scale, we believe Encompass is exceptionally well-positioned to deliver in these areas for global banks, becoming the recognised global standard across RegTech, AML and KYC.”

Previous Article

March 14, 2022

Lokyata enables loan decisioning for financial institutions through BankAnalyze

Read More
Next Article

March 14, 2022

The Monday Roundup: what we are watching this week | March 14th

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

September 02, 2025

AI adoption brings cyber risks for UAE firms

Read More

September 01, 2025

M1xchange taps Tata AIG to add insurance to MSME financing

Read More

August 28, 2025

Macquarie Bank taps BioCatch Trust for scam prevention

Read More

Related Reports

Sales League Table Report 2025
Know More
Global Digital Banking Vendor & Landscape Report Q2 2025
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
ICM report
Incentive Compensation Management Report Q2 2025
Know More
Treasury & Capital Markets Systems Report Q2 2025
Know More