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: Adding cloud to your high performance trading infrastructure

Adding cloud to high performance trading infrastructure offers the benefits of scalability, faster development, and lower capex costs – but can it meet required speeds of data delivery, does it limit the extent of available data, and how can low-latency data be sourced in the cloud? Still more, is it feasible to run a complete...

BLOG

FCA and Turing Institute Collaborate on Synthetic Data to Advance AML Detection

The Financial Conduct Authority has published a research note from its synthetic data anti-money laundering project, an initiative that began in autumn 2024 and was developed with the Alan Turing Institute, Plenitude Consulting, and Napier AI to create a synthetic dataset for AML detection testing. The paper marks the culmination of that work to date...

EVENT

Data Management Summit New York City

Now in its 15th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

FRTB Special Report

FRTB is one of the most sweeping and transformative pieces of regulation to hit the financial markets in the last two decades. With the deadline confirmed as January 2022, this Special Report provides a detailed insight into exactly what the data requirements are for FRTB in its latest (and final) incarnation, and explores what needs to be done in order to meet these needs on a cost-effective and company-wide basis.