RegTech kompany secures €6 mn to accelerate growth and product development
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RegTech platform for Business KYC, kompany, has announced an investment of almost €6 million. The funding round counts as the company’s largest single investment round to date. kompany has stated that it will utilise the new funding to speed up its growth and expand product lines. The funding round was led by Fairway Global Investment along with Global Brain. It saw the participation of existing shareholders, including the European Super Angels Club and the kompany management team.
“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 latest funding round will directly support the development of the firm’s two important technologies including the AI-based instant shareholder discovery and the fusion of Digital Identity with Business KYC (KYB) for cross-border payments.
Austria-based kompany is a RegTech platform for Global Business Verification and Business KYC for AML compliance. Its API platform and web-based KYC workspace provide financial institutions, payment providers, insurers, and other regulated corporations the automation platform and tools required for Business KYC (KYB) and audit-proof business verification for anti-money-laundering compliance.
“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,” stated kompany Founder & CEO Russell E. Perry.
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