RegTech Encompass Corporation bags £25m

Encompass Corporation, a provider of automated KYC solutions, has raised £25m in a funding round.

The round was led by Australian investor Perennial Partners and saw investment from Serendpity Capital, Seven Seat Capital and Microequities Asset Management.

According to Encompass, the raise will be used to accelerate the firm’s growth worldwide, which has included office openings and recruitment in Amsterdam and New York. The raise will also facilitate product innovation and development in Glasgow, Sydney and Belgrade.

The company’s expansion will help it to ‘better meet the needs of existing global customers, as well as to continue to onboard renowned financial institutions’ as it increases its international footprint, Encompass stated.

Encompass has seen substantial growth over the past 12 months, adding new accounts and the addition of specialist industry experts to its teams in the UK, Europe, the US and APAC.

Encompass co-founder Roger Carson said, “Today’s funding will help fuel Encompass’ rapid global expansion, especially as we make inroads in North America, with operations driven from New York, and continue to expand our presence in Europe.

“Expanding to new markets will add greater value to our business in a way that better serves existing customers and attracts additional global banks as new customers. We are excited to have new and existing investors support Encompass’ acceleration, expansion and vision to continue to be recognised globally as the leading provider of automation to the corporate KYC due diligence market.”

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