KYC automation Encompass Corporation has received an investment from Boston-based private equity firm Beacon Equity Partners.
The investment was also supported by previous backers.
Encompass offers an on-demand KYC and due diligence platform that helps financial institutions handle their compliance processes. Its features include screening, identity verification, ongoing monitoring and remediation.
The company claims to have had a strong 12 months, achieving significant revenue growth and adding several top global banks and law firms to its client lists. It also added 70 new staff members to its team.
Encompass CEO and co-founder Wayne Johnson said, “Beacon Equity Partners is the perfect match for Encompass, with this investment enabling us to continue our rapid growth journey whilst investing across our business to meet demand. The expertise Joe and Beacon bring in growing global companies is of great benefit, particularly as we work towards formally entering the North American market in 2021 – a significant milestone for Encompass.”
As part of the deal, Beacon partner Joe Bradley has joined Encompass as a member of its advisory council.
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