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 to drive compliance and as a business imperative

The importance of data lineage has escalated in recent years in response to regulatory demand and increased business understanding of the benefits it can deliver. Like all capital markets technology, data lineage presents both challenges and opportunities, so how best can it be implemented and sustained? And how can your organisation reap the rewards of...

BLOG

smartKYC QnA: Accelerating Due Diligence at Scale

Hugo Chamberlain is the chief commercial officer of UK-based smartKYC, which has been automating the KYC process since 2014. Data Management Insight spoke to Hugo to find out how the company is helping financial institutions streamline their onboarding processes. Data Management Insight: Hello Hugo. When was smartKYC created and how does it serve financial institutions?...

EVENT

TradingTech Summit New York

Our TradingTech Summit in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

Enterprise Data Management Europe 2010

he US may seem to be ahead of the rest of the world in terms of championing the data management cause with the inclusion of reference data focused items in the Dodd-Frank Act, but Europe is not too far behind. Senior European level officials such as European Central Bank (ECB) president Jean-Claude Trichet have taken...