Shopper onboarding regtech specialist LAB Group will get A$6.5M funding from GCI

Australia based mostly consumer onboarding options supplier LAB Group has publicizes its profitable completion of a personal funding spherical elevating as much as AUD $6.5 million in development capital.

The incoming investor, World Credit score Investments (GCI), is a number one supplier of specialist non-public credit score and tailored monetary merchandise. Based in Sydney in 2015, GCI supplies versatile low-dilution funding buildings that allow its investee corporations to remodel their companies, funds have been utilized by companies to assist speed up gross sales and advertising and to fund worldwide growth methods – to call just a few. GCI has raised and deployed c.AU$1 billion to this point and specialises in empowering excellent entrepreneurs and administration groups seeking to remodel and scale their excessive development companies.

LAB Group was co-founded in 2010 by CEO Nick Boudrie and CTO Lyndon Webster, who retain majority stakes within the enterprise. Since launch, LAB Group has deployed its know-how throughout Australian and worldwide monetary companies licensees, in addition to companies in different sectors, while establishing workplaces in Melbourne, Sydney, Brisbane and Copenhagen. The corporate works with quite a few Retail FX and CFD brokers, akin to IG Group.

Having partnered with a few of Australia and the world’s most recognised and revered establishments, LAB Group’s modern onboarding and compliance platform solves the important thing governance, danger and compliance challenges that regulated entities face at present. GCI’s funding will assist LAB Group to speed up its enterprise and product improvement actions, offering working capital to fund home and worldwide development alternatives.

Nick Boudrie, CEO and co-founder of LAB Group, stated:

“We’re delighted to welcome GCI as an investor in LAB Group. The backing of an investor of GCI’s calibre will carry LAB Group the assist we have to additional strengthen and scale up our group and speed up our development technique. We’re notably happy to have discovered a capital funding resolution which can assist us take our enterprise to its subsequent development section whereas minimising shareholder dilution.

“Finishing the GCI facility underlines the sturdy market place and distinctive capabilities that LAB Group has developed by means of 12 years of evolution and innovation. Our platform delivers vital benefits to LAB Group purchasers, encompassing a dynamic onboarding framework offering end-to-end account opening and digital workflow administration, an easy-to-integrate ID verification resolution validating AML, KYC, KYB, and PEP Sanctions for all entity varieties, and a community of world merchandise and jurisdictions that allows the seamless consented motion of client profile knowledge.

“We look ahead to a fruitful working relationship with GCI which provides worth to LAB Group’s clients, integration companions, employees and traders.”

Gavin Solsky, Managing Director & Co-Founder, from GCI, stated:

“We’re excited to announce our partnership with LAB Group as they embark on their thrilling development journey. LAB Group embodies all of the qualities we search in an rising high-growth firm, from a confirmed product-market match to excellent buyer metrics. With a talented founder-management group driving their development technique and a considerable market alternative supported by structural development, we’re assured of their future success.”

Henslow Pty Ltd acted as company adviser to LAB Group and lead supervisor of the transaction.

About LAB Group Companies Pty Ltd

LAB is a RegTech offering an modern KYC & Onboarding platform that revolutionises the shopper journey from the very first steps, fulfilling AML/CTF regulatory wants while saving time and assets by offering a excessive diploma of automation for account creation and buyer lifecycle administration utilizing remediation and ongoing buyer due diligence processes. The LAB platform welcomes tens of hundreds of individuals into a whole lot of monetary product choices throughout over 15 business verticals, matching candidates with an unlimited array of market choices.