Financial crime and compliance specialist Plenitude has secured a strategic investment from Growth Capital Partners (GCP), a private equity firm focused on investing in growth companies in the technology and services sectors. The investment will support the further build-out of new software capabilities and accelerate Plenitude’s expansion plans including establishing a presence in the Asia-Pacific region.
Plenitude works with clients at a financial institutions to help address the legal, regulatory, reputational and social imperative to take diligent and rigorous steps to mitigate financial crime risks. The company’s offerings include the subscription-based RegSight, Compass and ClientSight services that provide insight into the array of Financial Crime Compliance (FCC) laws, regulations, guidance and risk indicators, to more effectively manage financial crime risk while reducing overall costs.
Plenitude works with a range of financial institutions including retail, commercial and investment banks, insurance companies, asset management, FinTech, professional services and crypto firms across the UK, Germany, France, Nordics, Asia and the EU, and have provided advisory services on some of the largest and most complex FCC transformations in the industry, across multiple sectors and jurisdictions.
Founded in 1999, GCP provides flexible equity funding of between £10 million and £50 million, as well as strategic support. GCP’s investment will support the build-out of Plenitude’s new capabilities, including Digital Assets and KYC Managed Services to support clients’ evolving needs and regulatory developments. It will also accelerate Plenitude’s expansion plans that include establishing a presence in Asia and expanding the current client footprint into new sectors through advisory, transformation services and RegTech subscription products.
According to Asad Choudhary, Partner at Plenitude, “The investment from GCP is a great catalyst for Plenitude and our ambition to be the leading consultancy in FCC advisory, transformation and innovative RegTech subscription products. Given our expansion plans, now is the right time to bring in an investment partner.”
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