Encompass Corporation is a blockchain-powered company that provides digital asset management and trading services. The company, which has been around since 2016, raised £25M in funding from prominent investors such as CAA Ventures Limited and PrivateEquityGroup.
Encompass Corporation, a supplier of intelligently automated Know Your Customer (KYC) solutions, stated on March 14 that it had completed a successful capital round of 25 million pounds. Perennial Partners, a significant Australian investment management firm, was the principal investor. Serendipity Capital, a financial services-focused principle investing business, Microequities Asset Management, and Seven Seat Capital were also present.
Many current owners, including Tim Frost, ex-Chairman of IHS Markit, Alan McIntyre, former Global Head of Banking Services at Accenture, and seasoned technology investor Ray Scott, made follow-on investments.
Encompass’ capital investment will mostly be utilized to accelerate the company’s global expansion, which has already included office openings and major recruiting in Amsterdam and New York. This increase will also help with current product development and innovation, which is being carried out by three primary engineering centers in Belgrade, Sydney, and Glasgow.
Encompass’ development will help it satisfy the demands of its existing worldwide customers, as well as continue to register prestigious financial institutions as it expands its global reach. The promotion follows a year of significant revenue growth, a rise in the number of new customers, and the addition of specialty specialists to the company’s teams in Asia-Pacific, Europe, the United Kingdom, and the United States.
Roger Carson, a co-founder of Encompass, said:
“Today’s investment will aid Encompass’ fast worldwide development, particularly as we make inroads in North America with operations based in New York and continue to extend our footprint in Europe,” says the company.
Expanding into new areas will increase the value of our firm by better serving current clients and attracting new global banks as customers. We’re thrilled to have new and current investors backing Encompass’ growth, development, and mission to be the world’s premier supplier of corporate KYC due diligence automation.”
Sean Harpur, co-founder of Serendipity Capital, on the other side, added:
“The rising importance of solutions that digitize and automate regulatory screening and due diligence for the corporate KYC sector is shown by Encompass’ successful fundraising.”
“Encompass is extraordinarily well-positioned to deliver in these areas for global banks, becoming the accepted worldwide standard across RegTech, AML, and KYC,” says the company.
The cash comes following Encompass’ entry into North America late last year and a round of funding in 2021.
