FullCircl, a trailblazing RegTech firm based in the UK, has closed a significant debt refinancing deal.
The deal, orchestrated with Salica Investments Growth Debt Fund, amounted to the largest debt deployment in the history of the fund, demonstrating strong market confidence in FullCircl’s potential. This strategic financial move is designed to provide FullCircl with additional working capital, vital for sustaining its growth trajectory.
FullCircl operates a unique platform that merges regulation with revenue growth, offering a comprehensive solution that stands out in a market filled with fragmented point solutions. This platform aids businesses in managing compliance, risk, and regulation from the outset, thereby enhancing their operational efficiency and customer acquisition strategies.
The funds from this latest financial round will be instrumental in advancing FullCircl’s development, particularly in areas like transaction monitoring and identity verification (IDV). These enhancements are expected to bolster the company’s AI capabilities, expand its market share, and deepen its smart technology offerings.
Aside from this recent financing, FullCircl has been on a steady upward trajectory, evidenced by three consecutive quarters of significant growth, including a 96% increase in new order intake year-on-year. This has translated into robust revenue growth, all while maintaining positive EBITDA—a testament to the platform’s effectiveness and market demand.
Andrew Yates, CEO at FullCircl, shared, “Our vision was to create FullCircl as a single platform which uniquely aligns revenue growth with risk and regulatory adherence – as an attractive alternative to fragmented point solutions which make integration across Customer acquisition, onboarding and ongoing monitoring complex, expensive and time consuming, at a time when the pressure is on to reduce complexity, reduce cost to serve and say yes (or no) faster.
“The response from our customers has been very positive reflected in these numbers. We are now undertaking over half a billion activities each month for our customers.”
Previously, FullCircl has also benefitted from the financial backing of top-tier investors such as Octopus Investments, Notion Capital, and Augmentum Fintech. Moreover, its acquisition of W2 Global Data Solutions in 2023 has significantly enhanced its capabilities in KYC, AML, fraud detection, and identity verification, further solidifying its market position.
Usman Ali, Partner at Salica Growth Debt Fund, remarked on the debt provision, “The decision to back FullCircl was compelling.
“FullCircl is in a unique position in its market, poised to capitalise on previous investments and is now starting to exploit the opportunity. With double-digit growth and near-perfect customer retention in its key segments, this is a business that knows how to execute. The debt facility we have provided, the largest in our company’s history, is a reflection of the exceptional team at FullCircl who are solving a critical and complex challenge, that’s worsening for many regulated businesses who are seeing an increase in fraud, driven by new generative AI technologies.”
FullCircl is a B2B SaaS company that brings regulation fully in-step with customer acquisition, creating better business from the start. Its global solutions drive revenue growth, keep risk and compliance in check, and streamline customer onboarding. Its software, delivered through a platform, API, and suite of applications reduces the cost to acquire and serve, clears the way for positive customer relationships, and accelerates profitable growth.
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