Two new investors and follow-up investment for kompany
UNIQA Ventures and Elevator Ventures have joined kompany with an initial investment alongside the European Super Angel Clubs (ESAC) syndication fund “EXF Alpha” in a mid-sized seven-figure round of financing. The investment is a strong commitment to the growth path of kompany.
kompany operates the largest proprietary corporate register network in the world with real-time access to primary source and audit-proof commercial register information covering more than 110 million companies in more than 200 countries and jurisdictions. The company built its infrastructure over the last five years servicing international banks and insurance companies, leading advisories, as well as compliance software providers. Currently, kompany is developing an AI engine for automated Ultimate Beneficial Owner (UBO) and shareholder discovery and a distributed ledger technology product for “Know Your Customer (KYC) on-chain”.
“kompany is among the top five in the Global RegTech Top 100 list, they participated in the MasterCard Start Path Program, and CB Insights nominated them among the Top 60 RegTechs in Europe. The founders built a product which is in high demand by companies across all industries. Today, FinTechs are like vitamin supplements, while RegTechs are the pain-killing medicine for organisations”, says Berthold Baurek-Karlic, President of the European Super Angels Club.
RBI is investing in kompany via its Elevator Venture fund. kompany is an alumnus of the Elevator Lab Program and became a group solution provider to RBI last year. Hannes Cizek, Managing Director of Elevator Ventures and Head of Group Strategy & Innovation at RBI, explains:
“Solving regulatory and compliance issues efficiently is a high priority and an important part of our corporate policy. In this spirit, kompany offers an essential addition that both improves and simplifies RBI’s current compliance process.”
Andreas Nemeth, CEO of UNIQA Ventures:
“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 digitalisation of heavily regulated industries like banking and insurance.”
Next Generation Business KYC
kompany combines Artificial Intelligence (AI), robotic process automation (RPA) and blockchain technology to deliver next generation Business KYC solutions. The service simplifies and audit-proofs business verification and client onboarding for financial institutions, insurance companies, corporations and FinTechs. The direct benefit for clients is significantly reduced onboarding time and compliance costs, leading to an overall competitive advantage.
“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.