Kompany, a regulation tech startup, has secured a “seven-digit investment” led by Hermann Hauser Investment’s I.E.C.T. Capital Partners and Floor13.
Kompany, based in Vienna, provides real-time access to commercial registry data globally such as company filings, to assist companies, mostly in the finance sector, in staying in line with regulations like Know Your Customer (KYC) and anti-money laundering laws.
“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,” said Russell E. Perry, co-CEO of Kompany, which plans to invest the funds its global expansion.
The burden of compliance has increased greatly since 2008, according to the company, which says its proprietary engine makes compliance processes more efficient and provides a clear audit trail.
“We consider RegTech a very exciting future market,” said ARM cofounder Herman Hauser. “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.”
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