Encompass secures new investments from Beacon Equity Partners

By Megha Bhattacharya

RegTech company Encompass Corporation has secured new investments from private equity group Beacon Equity Partners. Beacon Partner, Joe Bradley, a FinTech investor, will also join Encompass’ Advisory Council, to sit alongside existing members Stephen Allen, former CRO of Macquarie Group; Kevin Gould, founder of IHS Markit, and Raymond W. Scott, CEO of Axolotl Corp.

Wayne Johnson, CEO and co-founder, Encompass, said about the new investment announcement, “Beacon Equity Partners is the perfect match for Encompass, with this investment enabling us to continue our rapid growth journey whilst investing across our business to meet demand. The expertise Joe and Beacon bring in growing global companies is of great benefit, particularly as we work towards formally entering the North American market in 2021 – a significant milestone for Encompass.”

Recently, financial crime screening and KYC solutions provider, Accuity announced a strategic partnership with Encompass Corporation today. The collaboration is expected to help customers in streamlining KYC processes, enhance the quality of risk assessments, and reduce compliance costs. Accuity will be enabled to develop a new solution for improving customer due diligence through a quick KYC risk assessment at the point of onboarding or periodical review in a single search.

Joe Bradley, Partner at Beacon, added, “Encompass is at the exciting stage where we like to invest in businesses – they have a clear leadership position in a growing niche in the KYC space. The number of global banks adopting the platform reflects the momentum we have seen and is a telling sign of the growth potential of this company.”