In the latest development, UNIQA Ventures and Elevator Ventures Beteiligungs, a subsidiary of Raiffeisen Bank International have invested in kompany. Notably, the previous investors, including the European Super Angels Club (ESAC), have increased their stakes.
For the uninitiated, kompany is the leading RegTech platform for Global Business Verification and Business KYC, providing an audit-proof, primary source, and time-stamped company information in real-time.
It is headquartered in Vienna, Austria and has offices in Singapore and the UK. Notably, the Munich-based company built its infrastructure over the last five years servicing international banks and insurance companies, leading advisories, as well as compliance software providers.
Hannes Cizek, Managing Director of Elevator Ventures and Head of Group Strategy & Innovation of RBI, explains:
Solving regulatory and compliance issues efficiently is a high priority and an important part of our corporate policy. In this spirit, kompany offers an essential addition that both improves and simplifies RBI’s current compliance process.
Founded in 2012 by Bernhard Hoetzl, Iris Pittl, Peter Bainbridge-Clayton, and Russell Perry, the kompany combines Artificial Intelligence (AI), robotic process automation (RPA) and blockchain technology to deliver next-generation Business KYC solutions.
The service simplifies and audit -proofs business verification and client onboarding for financial institutions, insurance companies, corporations, and Fintechs. The direct benefit for clients has significantly reduced onboarding time and compliance costs, leading to an overall competitive advantage.
Russell E. Perry, CEO of kompany, said:
More than 18 months of intense product collaboration with RBI as a customer, resulted in extensive market insight and live market adaptation, helping to position us as an internationally recognized RegTech company. We welcome having both RBI and UNIQA join us as shareholders ahead of our upcoming growth funding round, which will enable us to strengthen our AI capabilities and blockchain-based services.
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