SMARTSEARCH IS A LEADING AML/KYC PLATFORM IN THE UK PROFESSIONAL SERVICES SEGMENT
TRIPLE HAS ACQUIRED A MAJORITY STAKE IN SMARTSEARCH, FROM FOUNDING SHAREHOLDERS AND A MINORITY SPECIALIST INVESTOR
Sector | Governance, Risk & Compliance
Headquarters | Ilkley, UK
Investment date | April 2024
Fund | Triple Private Equity Fund I
Status | Current
Founded in 2011, SmartSearch has grown rapidly from start-up to scale-up, and is widely regarded as a leader in digital compliance. Its innovative platform and technology enables more than 7,000 clients to navigate ever-increasing regulatory demands including AML compliance, customer due diligence, Know Your Customer (KYC) and Know Your Business (KYB) procedures
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THE COMPANY
TRIPLE INVESTMENT ORIGINS
SmartSearch was looking for an investment partner with complementary knowledge of the Risk segment space to support their next stage of growth; from the outset of the first meeting between Triple and Smartsearch the fit and alignment of ambitions became apparent and allowed Triple to become the preferred partner of Smartsearch
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SMARTSEARCH FIT WITH TRIPLE’S INVESTMENT CRITERIA
Given Triple’s focused investment criteria, we were able to see the attractiveness of SmartSearch in terms of commercial traction, profitability and market positioning
Our market knowledge via Triple founders and our advisory network, including Phil Cotter and David Craig, allowed us to see SmartSearch differentiation as the leading AML/ KYC platform in the UK Professional Services segment, generating attractive inorganic opportunity of consolidation in the UK
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TRIPLE DIFFERENCE
Triple’s experience as an operator via Ben Shepherd has been a key differentiator in this process. Furthermore, given Mads Hansen’s deep network, Triple was a clear ‘go to’ for SmartSearch when looking for potential investors/ partners.
From the first management meeting, we were able to position Triple as a trusted partner to deliver on SmartSearch plan, including areas such as Pricing, Partnerships, Talent etc. and we are excited to now support SmartSearch in delivering on these ambitions