Legal technology provider Encompass
Corporation has been awarded £3.6 million investment for
international expansion.
The Scottish Investment Bank, the development arm of Scottish
Enterprise, has invested £1.8 million and the Australian Adcock
Private Equity Group has invested another £1.8 million
Founded in 2012 in Australia, Encompass provides sophisticated
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, currently standing at
12. This will further speed up the viability assessment and
onboarding of new clients for the legal profession. In addition, it
will allow the software to be used by the broader financial
services community, to meet their regulatory requirements for
Anti-Money Laundering and Know Your Customer.
Wayne Johnson co-founder and CEO of Encompass said: "This
funding will enable us to fast-track our product development and
enhance the offering to the legal services market. It will also
support our launch of Encompass Confirm, a solution for financial
services firms looking for an answer to the Know Your Customer
/Anti-Money Laundering headache."