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Kuflink, a peer-to-peer lending platform where loans are secured against UK based property, is integrating Contego’s multi-source identity verification and risk-scoring platform to carry out Anti-Money Laundering (AML) checks on individuals.
Kuflink selected Contego’s identity verification and risk-scoring platform to support its checking requirements as part of its lender onboarding process.
To comply with AML regulation, Kuflink has to verify the identity of its lenders, screening against PEP and sanction lists, and checking identity documents.
Contego is working with Kuflink to create a bespoke risk scorecard to manage the complexity of onboarding, checking both people and companies simultaneously,
Canadian investment bank FirePower Capital has launched an asset management arm that will provide debt financing to lower mid-market Canadian businesses.
The FirePower Private Capital Division, a specialist 'Gap Debt' lender, aims to assist lower mid-market Canadian businesses searching for capital to continue to grow.
"Canadian entrepreneurs just do not get their due in this country," says FirePower's founder and chief executive officer Ilan Jacobson. "Quite simply, businesses here do not have access to what their US counterparts do in terms of next-stage, growth financing, which is stifling innovation and giving Canadian entrepreneurs a bad rap."
With backing
FreshDirect, a US online food retailer, has closed a USD189 million investment round led by JP Morgan Asset Management on behalf of its PEG Digital Growth Fund II, returning investor W Capital and other investors advised by JP Morgan Asset Management, including the AARP Innovation Fund.
“We are thrilled to partner with a group of world-class investors led by JP Morgan Asset Management at this pivotal time for FreshDirect. The funding will fuel expansion into new markets, increase capacity with new manufacturing and distribution facilities, and launch new businesses that meet today’s consumers’ needs as their preferences and buying habits
Skyhigh Networks, a cloud access security broker (CASB), has secured a USD40 million Series D financing round, bringing the company’s total capital raised to USD105.5 million.
Thomvest Ventures led the round, with participation from Sequoia Capital and Greylock Partners.
In conjunction with the financing, Umesh Padval, venture partner at Thomvest, has joined the Skyhigh Networks board of directors.
The latest round of funding comes with an increase in the valuation of the company from the last round. Skyhigh plans to use the funding to accelerate its go-to-market investments and extend its leadership in the rapidly growing cloud security
Equistone Partners Europe, a European investor in mid-market buyouts, has acquired a majority stake in D3T Distribution, the holding company of Motoblouz and Access-Moto, from Inspirational Stores for an undisclosed sum.
Following the deal, Motoblouz’s co-founder and CEO Thomas Thumerelle will continue in his current role.
Founded in 2004 and headquartered near Lille, France, Motoblouz has grown to become the leading online retailer of motorcycle accessories and clothing in the French market. For the business year 2015/2016 the company reported sales of approximately EUR38 million, representing an increase over the prior year of almost 30 per cent.
Motoblouz
Primonial REIM has acquired Gecina’s healthcare division, Gecimed portfolio.
Clearwater International advised Primonial REIM on the strategic and financial analysis of the portfolio, raising the equity and debt, the organisation of due diligences and negotiations with the seller.
Primonial REIM acted for a club deal, gathering several institutional investors.
The portfolio includes 74 clinics and nursing homes for a total of 8,400 beds, valued at circa EUR1.35 billion, which reflects a net yield of 5.9 per cent.
Primonial REIM is one of the main real estate investors in the French market with EUR2 billion invested in 2015;
Encompass Corporation, a technology company that provides analytic aggregation software for lawyers and insolvency practitioners, has secured investments totalling GBP3.6 million.
The Scottish Government’s development arm and Australia’s Adcok Private Equity Group have each invested GBP1.8 million in the company.
Founded in 2012 in Australia, Encompass provides analytics software for financial and professional service firms. It established its UK head office in Glasgow in 2015 and has since expanded to 32 employees in the UK.
The funding will enable Encompass to increase the numbers of domestic and international data suppliers which currently stands at 12. This will further
Aurelius Rho Invest is to acquire the European business activities of the US-based Office Depot.
Once the consultation processes with various employee representative bodies at the Office Depot Group in France have been concluded, the seller will be able to conclude an already negotiated purchase agreement.
The two parties have agreed on exclusivity during this period. The transaction, which is subject to the approval of the relevant anti-trust authorities and further closing conditions, is scheduled for completion in the next few months.
Office Depot Europe, which operates in 14 countries across Europe and has approximately 6,500 employees, has
Tata Power International and ICICI Venture have created a platform company, Resurgent Power Ventures, to facilitate investment in power projects in India in the coming two to three years.
The projects are in advanced stages and near operational readiness or operating.
The platform is co-sponsored by Tata Power and ICICI Bank, which are being advised by Akin Gump. It has commitments from partner investors Caisse de dépôt et placement du Québec of Canada, Kuwait Investment Authority and State General Reserve Fund of the Sultanate of Oman, which are some of the largest investors globally.
The platform has raised
NorthEdge Capital has promoted Jon Pickering to head of Manchester to lead the firm’s investment operations across the North West.
Pickering has worked in the North West private equity market since 2002 and joined NorthEdge in 2013.
During his time at NorthEdge, he has led seven deals plus a number of follow-on portfolio acquisitions. This includes investments into SAAS solutions provider Utiligroup and composite door manufacturer Solidor and subsequent acquisitions to create DW3 Products Group. More recently, he led the investment into the niche logistics provider, Abbey Logistics.
Working alongside Ray Stenton, partner and head of new business
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