SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMC NEWS

TMCNET eNEWSLETTER SIGNUP

Elevator Ventures & UNIQA Ventures Invest in kompany.com
[August 06, 2019]

Elevator Ventures & UNIQA Ventures Invest in kompany.com


UNIQA Ventures and Elevator Ventures Beteiligungs GmbH ("Elevator Ventures"), a 100 percent subsidiary of Raiffeisen Bank International have invested in kompany®, the leading RegTech platform for Global Business Verification and Business KYC, while previous investors, including the European Super Angels Club (ESAC), have increased their stakes.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190806005458/en/

Andrew Bunce, Chief Product Officer; Peter Bainbridge-Clayton, Co-Founder & CTO; Johanna Konrad, Chief Operating Officer; Russell E. Perry, Founder & CEO (Photo: Business Wire)

Andrew Bunce, Chief Product Officer; Peter Bainbridge-Clayton, Co-Founder & CTO; Johanna Konrad, Chief Operating Officer; Russell E. Perry, Founder & CEO (Photo: Business Wire)

"We have followed kompany's success story for quite some time - we at UNIQA Ventures are convinced that now is the right time for outstanding RegTech startups to benefit from the digitalization of heavily regulated industries like banking and insurance." says Andreas Nemeth, CEO of UNIQA Ventures.

RBI is investing in kompany via its corporate venture capital unit Elevator Ventures. kompany is an alumnus of the Elevator Lab Program and became a group solution provider last year. Hannes Cizek, Managing Director of Elevator Ventures and Head of Group Strategy & Innovation explains, "Solving regulatory and compliance issues efficiently is a high priority and an important part of our corporate policy. In this spirit, kompany offers an essential addition that both improves and simplifies RBI's current compliance process."

Next Generation Business KYC
kompany combines Artificial Intelligence (AI), robotic process automation and blockchain technology to deliver next generation Business KYC solutions. The service simplifies and audit-proofs business verification and client onboarding for financial institutions, insurance companies, corporations and FinTechs. The direct benefit for clients is ignificantly reduced onboarding time and compliance costs, leading to an overall competitive advantage.



kompany operates the largest proprietary corporate register network in the world with real-time access to primary source and audit-proof commercial register information covering more than 110 million companies in 200+ countries and jurisdictions. This allows kompany to integrate audit-proof data natively into the products. kompany is consistently rated among the top five of the Global RegTech Top 100 in the fast-growing Business Verification market estimated to reach $11.8 billion by 2022.

"More than 18 months of intense product collaboration with RBI as a customer, resulted in extensive market insight and live market adaptation, helping to position us as an internationally recognized RegTech company. We welcome having both RBI and UNIQA join us as shareholders ahead of our upcoming growth funding round, which will enable us to strengthen our AI capabilities and blockchain based services," says Russell E. Perry, CEO of kompany.com.


Early Access to the Latest Regulatory Technology for RBI
kompany was one of the first participants in the Elevator Lab Program, RBI's Fintech Partnership Program. The program helps scale-ups collaborate with leading bank experts across RBI Group and resulted in a multi-year commercial agreement for kompany in 2018.

"We have seen the progress that kompany has made close-up after an intensive year of cooperation. This new investment recognizes the progress the team has made as well as the growth opportunities on the horizon. We are looking forward to reaching the next milestone together," said Hannes Cizek.

About kompany
kompany.com is the leading RegTech platform for Global Business Verification and Business KYC providing audit-proof, primary source and time stamped company information in real-time. It is headquartered in Vienna, Austria and has offices in Singapore and the UK. Since the founding in 2012, kompany has attracted a unique pool of top developers, regulatory experts, and product managers from around the world. It is a government licensed clearing house and official distributor for business registers in multiple countries worldwide.
www.kompany.com

About UNIQA Ventures
UNIQA Ventures is the Corporate Venture Capital entity of UNIQA Insurance Group. Located in the heart of Vienna, the company invested in 12 startups since 2016 and achieved one successful exit. With a focus on early growth stage and Series A rounds, the team of UNIQA Ventures invests in ecosystems that are strategically relevant for UNIQA: FinTech, HealthTech, Mobility and Smart Home. To provide the most possible value for the portfolio, UNIQA Ventures is structured as a financially motivated investment arm that can open up cooperation within the insurance space and leverage the founders' vision with industry knowledge and a profound network in the CEE region.
www.uniqaventures.com

About Elevator Ventures
Elevator Ventures is the corporate venture capital unit of Raiffeisen Bank International (RBI). It focuses on strategic direct investments in later-stage FinTech and RegTech companies, co-investments with other investors, and investments in venture capital funds. Elevator Ventures' objective is to finance strategic partnerships with promising later stage FinTechs which could be a valuable addition to RBI's current portfolio. With more than 30 years of expertise in Central and Eastern Europe (CEE) and an expansive network there, RBI plays an active role in the expansion of FinTechs in this dynamic region.
www.elevator-ventures.com


[ Back To TMCnet.com's Homepage ]









Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2019 Technology Marketing Corporation. All rights reserved | Privacy Policy