We are proud to share a deal announcement about our award-winning portfolio company – RegTech platform for Business KYC (KYB), kompany: the company has secured a follow-up funding of €6 million, which is its largest single investment round to date. kompany is one of the world’s leading providers for KYB & AML solutions for the financial industry, with a solid and growing business. Additional funding will boost international growth, support local sales teams in major Banking Hubs of the world and market readiness of its blockchain-based (KYC onchain) product line. European Super Angels Club tripled the value of its investment, since the first investment cheque was signed – roughly 2 years ago. kompany is one of the best investments of the European investors network so far.

New growth investors bring total raised to €14 million

With the latest investment round kompany will build and increase staff in local offices in major banking hubs, such as London, New York, and Singapore. kompany has been leading the RegTech industry in terms of innovation for a couple of years now. In total, kompany collected €14 million. Although, this amount  is lower compared to peers in other regions, they are leading the way in their field based on the traction, global footprint and assets (proprietary technologies) that have been built during the last few years – the efficiency of this team is incredible.

Its new product line for DLT (distributed ledger / blockchain) will set another benchmark. Audit-trails via blockchain, fast and fully-automated KYB and AML solutions for blockchain-based payments will increase efficiency by weeks. And human error will be reduced drastically.The new funding round marks the beginning of a period of intensive growth, based on kompany’s latest big innovations – an AI-based shareholder analysis tool UBO discovery® and the DLT-based audit-trail solution KYC onchain.

“RegTech is one of the strongest fields in tech these days. We will see rapid and vital changes in the years to come and kompany is undoubtedly paving the way for innovation in this sector. The market itself is about to consolidate in a couple of areas and we will keep an eye on acquisition targets for the RegTech companies in our portfolio. We are excited to be part of kompany’s journey and will further increase our hands-on support for the team” – said Berthold Baurek-Karlic, President of the European Super Angels Club.

The investment round, in which ESAC participated for the third time 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).

“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. 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 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.

The kompany team has doubled in the last year to outpace the new regulatory realities of highly enforced Anti-Money Laundering regulation in Europe (AMLD 4&5) and the pending US AML regulation. Additionally, in wake of the Covid-19 stimulus measures, governments are pumping trillions into the global economy. This has inadvertently caused a market rush to rapidly digitize and automate formerly manual compliance processes.

As a result, market interest has seen the value of kompany’s sales pipeline increase to an eight-figure number in the last twelve months. “The current market and regulatory situation warrant a far more automated, audit-proof business verification with an exponentially lower margin of error, as compliance risks have never been higher, and clients increasingly move to seamless digital services.” Johanna Konrad, COO of kompany, highlighted.

John Vorrias, Chief Investment Officer at Fairway Global Investment added: “RegTech generally, and kompany specifically has the potential to be a game-changer in terms of the broad use-case applications across multiple industries and segments. And kompany operates the only real-time proprietary global register network that connects to primary source commercial registers and financial & tax authorities in over 200 countries and jurisdictions.”

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.

“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 the leading RegTech platform for Global Business Verification and Business KYC (KYB) for AML compliance.  Its advanced API platform and collaborative 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. Clients include global and international banking groups, FinTechs, Big Four accounting firms, law firms, Banking-as-a-Service and compliance platforms, as well as multinational corporations.

kompany is an alumnus of Mastercard Startpath, Plug and Play FinTech, Raiffeisen Bank International’s Elevator Lab, the Oracle Scale Up programme and founding member of the International RegTech Association and the Austrian Blockchain Association.

It is headquartered in Vienna, Austria and has offices in London, New York, and Singapore. kompany is a government licensed clearing house and official distributor for commercial and business registers in many countries worldwide.