RegTech platform kompany raises €6m for growth

Kompany has announced today new investment of almost €6 million, the RegTech firm's largest single investment round to date.

It will use the new funding to accelerate growth and expand new product lines, artificial intelligence-driven shareholder analysis tool UBO discovery and blockchain-based audit-trail solution KYC onchain.

Fairway Global Investment led the round, together with Global Brain as co-investor. Existing shareholders, including the European Super Angels Club and the kompany management team, also participated in this round.

“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 digitising the process and customer experience,” stated kompany founder and chief executive Russell E. Perry.

The kompany team has doubled in the last year to keep pace the new regulatory realities of highly enforced Anti-Money Laundering (AML) regulation in Europe and the pending US AML regulation. Additionally, in wake of the COVID-19 stimulus measures, governments are pumping trillions into the global economy, inadvertently causing a market rush to 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 12 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," explained Johanna Konrad, chief operating officer of kompany.

The business is an alumnus of Mastercard Startpath, Plug and Play FinTech, Raiffeisen Bank International’s Elevator Lab, the Oracle Scale Up programme.

Headquartered in Vienna, it now has offices in London, New York and Singapore.

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