About a-team Marketing Services
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Encompass Secures New Funding from Beacon

Subscribe to our newsletter

London-based Know Your Customer (KYC) automation software provider Encompass Corp. has secured new investment from Beacon Equity Partners, a Boston-based private equity firm that focuses on companies in the regulatory and compliance space, as part of a broader capital round that included existing investors. Joe Bradley will join Encompass’s 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.

The latest round – raising an undisclosed amount – continues a series of outside investments that have raised around £9 million for the company. These include:

  • almost £3.3 million of research and development grants from Scottish Enterprise;
  • a £1.7 million private investment package that included £600,000 from Scottish Investment Bank (SIB), the investment arm of Scottish Enterprise, to fund expansion of its Glasgow development team and customer service operations;
  • a £450,000 Regional Selective Assistance and Training Aid support grant, to help fund the opening of its Glasgow office; and
  • a further £3.6m investment round that included £1.8 million from SIB as well as funding from private sector investors.

The latest founding round follows the addition of several new clients over the past 12 months, adding to a client list that includes Santander and Nordic KYC utility Invidem, as well as key partners such as Accuity. Encompass has also added more than 70 staff members across all existing locations in the past year, and expanded its global footprint to include Singapore, the US, Serbia and Sweden.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: The UK’s New Prudential Regime for Investment Firms – Time to Prepare!

With the implementation of the new Investment Firms Prudential Regime (IFPR), the FCA is aiming to streamline and simplify the prudential requirements for solo-regulated investment firms in the UK. Under the new regime, all MiFID authorized, Collective Portfolio Management Investment Firms (i.e. UK UCITS ManCo and Alternative Investment Fund Management Firms permitted to undertake Additional Activities)...

BLOG

Trading Up: Helping Our Youngsters Get What We Do

By Andrew Delaney, President, A-Team Group. We hear it time and time again – at our conferences, on our roundtables and from our advisory boards: our beloved financial data and technology industry is suffering from an acute skills shortage. Flip to the other side of the coin, and employers and parents alike fret about the...

EVENT

RegTech Summit New York

Now in its 10th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Pricing and Valuations

This special report accompanies a webinar we held a webinar on the popular topic of Pricing and Valuations, discussing issues such as transparency of pricing and how to ensure data quality. You can register here to get immediate access to the Special Report.