Contego Fraud Solutions, an Abingdon, UK-based provider of automated compliance solutions, secured £3.5m in funding.
The round was jointly led by Maven Capital Partners and NVM Private Equity.
The company intends to use the funds for the continued growth of the business.
Founded by CEO Adrian Black in 2010, Contego provides an automated compliance solution across a wide range of industries, helping organizations in the property, banking, financial services and public sectors to gain a full understanding of their clients, customers and employees by automating onboarding, monitoring and data enrichment processes, and providing complex, real-time compliance and fraud checks. Its software platform enables customers to improve the operational efficiency of their compliance processes, and minimize operational costs, helping to reduce risk when dealing with people, companies and identity documents.
Contego performs a wide array of screening, verification and vetting assessments including: Know Your Customer (KYC); Anti Money Laundering (AML); “Right to Work” checks; “Right to Rent” checks and Counter-Party Risk Management.