Member Article

Pioneer Hermann Hauser leads expansion financing in kompany.com

The I.E.C.T. Capital Partners, headed by the Hermann Hauser Investment GmbH, Stefan Schneider and other financial investors have placed a seven-digit investment in kompany.com. The investment will be used to expand the global footprint to cover 150 million companies worldwide and to develop new leading regulatory technology (RegTech) services for KYC & AML such as an international Ultimate Beneficial Owner (UBO) analysis tool and an extended KYC Registry.

Since 2008, regulatory scrutiny and financial penalties for non-compliance have increased significantly. As a result, a growing number of companies are trying to find new solutions to make their compliance processes more efficient. Regulatory Technology automates the growing burden of compliance, mitigating risks and exposure, saving time and cutting costs.

Founded in 2012, kompany provides real-time access to official and authoritative commercial register data, including company filings from more than 100 million companies in 150+ jurisdictions. The proprietary core engine ARTSS (Adaptive Real-Time Semantic Search) connects government registers and other KYC & AML sources and is surrounded by an application engine providing value added services such as professional translations, Politically Exposed Person (PEP) & Sanction list checks, enhanced VAT and IBAN number verification as well as monitoring & alerting services. The service can be accessed via a web for instant usage and an API which enables automated retrieval of authoritative company information. kompany operates under government licenses and the service fulfils the strongest regulatory requirements by providing an audit trail and documentary evidence of company status, ownership, management and history.

“We consider RegTech a very exciting future market. The team at kompany has convinced us with their very good understanding of the market, their global business philosophy and their implementation achieved so far.” Herman Hauser explains his investment decision, who together with I.E.C.T focuses his activities on Central Europe and has placed 14 investments so far.

“The current client base includes 35,000 businesses from over 100 countries. Our services are used by global banking groups, international accounting and law firms, and cross-border trading companies of all kind”, says Russell E. Perry, Co-CEO and founder.

This was posted in Bdaily's Members' News section by David Pacini .