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: Data lineage – how to ensure you can deliver the right information, to the right people, at the right time

Data lineage is critical to digital transformation, business decisions and regulatory compliance. It is also difficult to implement at scale, not only because large quantities of data across numerous systems must be inventoried and tracked, but also because the data is not static and needs context to make sense to the business. If you are...

BLOG

Eight RegTech Providers Tackling Sanctioned Securities and Financial-Instrument Screening

Sanctions screening in capital markets and treasury extends beyond conventional checks on payments, people and legal entities. Firms need to identify exposure inside securities, issuers, funds (including ETFs), indices, structured products, derivatives and custody positions. They also need to track changes as sanctions regimes, ownership structures and instrument composition shift. That creates a different control...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Valuations – Toward On-Demand Evaluated Pricing

Risk and regulatory imperatives are demanding access to the latest portfolio information, placing new pressures on the pricing and valuation function. And the front office increasingly wants up-to-date valuations of hard-to-price securities. These developments are driving a push toward on-demand evaluated pricing capabilities, with pricing teams seeking to provide access to valuations at higher frequency...