Elevator Ventures invest in RegTech platform kompany.com
Elevator Ventures & UNIQA Ventures, a subsidiary of Raiffeisen Bank International, has invested in a leading RegTech platform called kompany.com, Ruby Hinchliffe, reports.
kompany combines AI, robotic process automation and blockchain technology to provide global business verification and Know Your Customer (KYC) solutions.
The commercial register platform was one of the first participants in the Elevator Lab Program, where RBI partner with emerging fintechs to help scale-ups collaborate with leading bank experts.
“We at UNIQA Ventures are convinced that now is the right time for outstanding RegTech startups to benefit from the digitisation of heavily regulated industries like banking and insurance,” says UNIQA Ventures CEO Andreas Nemeth.
Direct clients such as RBI benefit from reduced onboarding time and compliance costs, as well as simplifying and audit-proofing business verification and client onboarding – a ‘high priority’ for RBI, according to Elevator Ventures MD and head of group strategy & innovation, Hannes Cizek.
Cizek adds: “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.”
Other previous investors, including the European Super Angels Club (ESAC), have increased their stakes in kompany.