Encompass Corporation, a provider of automated Know Your Customer (KYC) solutions, has raised approximately USD33 million (GBP25 million) in a funding round led by Australian investment management company Perennial Partners.
Financial services focused principal investing firm Serendipity Capital, Seven Seat Capital, and FinTech investment firm Microequities Asset Management also participated in the round. There were also follow-on investments from several existing shareholders, including Alan McIntyre, former Global Head of Banking Services at Accenture, and Tim Frost, ex-Chairman of IHS Markit, as well as experienced technology investor Ray Scott.
Encompass’ capital raise will be used to accelerate its growth globally, which has included office openings and extensive recruitment in New York and Amsterdam. The raise will also facilitate ongoing product innovation and development, undertaken from three main engineering centers in Sydney, Belgrade, and Glasgow.
