Total investments in 360kompany AG now EUR 14m
In the recent months – amid the global Covid-19 crisis – we kept supporting some of the most interesting startups in the Austrian startup ecosystem to secure follow-up investments. Our advisors managed to close two big deals and are about to announce more successful rounds soon. We are proud to have closed the following deals during the last weeks: Health-Tech pioneer myBioma has secured a six-figure investment from renowned investors, which was also doubled by the COVID-19 relief fund of the Austrian Promotional Bank (Die Austria Wirtschaftsservice Gesellschaft mbH – AWS) and also the award-winning RegTech platform for Business KYC (KYB), kompany has secured a follow-up funding of €6 million, which was their largest single investment round to date.
Venture Sentiment is down (see Q2 Report), but some equity stories are still strong enough to convince international investors. kompany is one of the world’s leading providers for KYB & AML solutions for the financial industry, with a solid and growing business. Additional funding will boost their international growth, support local sales teams in major Banking Hubs of the world and market readiness of its blockchain-based product line. Its new product line for DLT (distributed ledger / blockchain) will set another benchmark. Audit-trails via blockchain, fast and fully-automated KYB and AML solutions for blockchain-based payments will increase efficiency by weeks. And human error will be reduced drastically.The new funding round marks the beginning of a period of intensive growth, based on kompany’s latest big innovations – an AI-based shareholder analysis tool UBO discovery® and the DLT-based audit-trail solution KYC onchain.
Noone said it would be easy
The first talks (building a solid pipeline) for both our recent investment deals (see also mybioma) began already in late 2019. As fund managers, our venture capital experts from Venionaire in Luxembourg and Austria have strongly supported both startups in their development and provided hands-on support in fundraising. Experienced investment managers, always have valuable advice during financing rounds and it is an asset for founders to have such experts around them. One of the key challenges was to calculate a solid (objective) value for both companies, with clear assumptions, in line with their strategies, prior to negotiations with potential investors.
You can imagine that both companies significantly differ in their size, branch, numbers, focus markets, potential future markets etc.. Our analysts stripped and screened mybioma and kompany to the bone, found a solid rational for their valuations, and introduced a good set of investors. Once investors build trust, as they understood those equity stories are interesting, we moved on. Investment rounds always need to be perfectly prepared, and legally balanced. This way founders protect the company and their investors.
If you are working on a deal yourselves – contact our team and see if our experts could be valuable partners for you. We are 100% transparent about our fees, and are used to cover a 360 degrees transaction service for our clients.
Closing & Signing the Investment
The latest investment round of 360kompany AG amounted to EUR 6m. Total investments in 360kompany AG are now at EUR 14m. The round was led by Fairway Global Investment, together with Global Brain, a major venture capital firm based in Tokyo, Japan. Existing shareholders, including European Super Angels Clubs fund “EXF Alpha” based in Luxemburg (managed by Venionaire Ventures Sárl). The new investors are famous, global investors in RegTech, FinTech and in the payment sector. We see great synergies to existing portfolio companies of those investors and are sure there will be mutual benefits from kompany’s technological lead in Business KYC (KYB).
kompany is the leading RegTech platform for Global Business Verification and Business KYC (or KYB: know Your Customer / Know Your Business) for AML compliance. Its advanced API platform and collaborative web-based KYC workspace provide financial institutions, payment providers, insurers and other regulated corporations the automation platform and tools required for Business KYC (KYB) and audit-proof business verification for anti-money-laundering compliance. Clients include global and international banking groups, FinTechs, Big Four accounting firms, law firms, Banking-as-a-Service and compliance platforms, as well as multinational corporations.
kompany is an alumnus of Mastercard Startpath, Plug and Play FinTech, Raiffeisen Bank International’s Elevator Lab, the Oracle Scale Up programme and founding member of the International RegTech Association and the Austrian Blockchain Association.
It is headquartered in Vienna, Austria and has offices in London, New York, and Singapore. kompany is a government licensed clearing house and official distributor for commercial and business registers in many countries worldwide.