KYC to raise €5m after Hong Kong deal25th June, 2018
By Fearghal O’Connor on the Sunday Independent
Irish startup Know Your Customer (KYC) plans to raise up to €5m in the coming weeks to fund expansion after signing a breakthrough Asian deal with a Hong Kong current account provider.
KYC, which has built a system to make it easier for banks and other financial institutions to meet regulatory requirements around checking the identities of new customers, is also in talks with a number of so-called ‘Tier One’ international banks based in the Asian financial hub.
Based in The Academy startup hub on Dublin’s Pearse Street, KYC signed its first Asian deal with new Hong Kong banking app Neat after it was recently selected for Standard Chartered’s Supercharger accelerator programme in the city.
It also signed a proof of concept deal with the Hong Kong arm of a major bank and is in discussions with six other major banks in the region.