SmartSearch, a UK provider of digital compliance and anti-money laundering (AML) software, has received a large investment from Triple Private Equity. The private equity firm will gain a majority share in SmartSearch and work with the company to support its core markets and continued expansion following the release of its latest technology platform last year. SmartSearch founders and existing shareholders will retain a minority in the company.
Founded in 2011, SmartSearch offers solutions for AML compliance, customer due diligence, Know Your Customer (KYC) and Know Your Business (KYB). Its AML verification platform conducts individual and business searches across UK and international markets with automated sanction, PEP, UBO and adverse media screening, and ongoing monitoring.
Guy Harrison, CEO of SmartSearch, says: “Triple is a good match for SmartSearch. The business is looking forward to calling on its expertise in scaling mission critical, B2B risk and compliance software.”
Mads Hansen, head of investments and managing and founding partner at Triple, adds: “This is Triple Private Equity’s first investment in SmartSearch, a market leader in GRC in the UK, a key investment space for Triple. The company has shown consistent growth and profitability and provides a high-quality software platform for its clients. We look forward to partnering with the SmartSearch team to pursue the company’s next stage of growth.”
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