SmartSearch secures investment from Marlin

SmartSearch receives growth equity investment from Marlin Equity Partners

Award-winning company SmartSearch Ltd, one of the UK’s leading providers of RegTech software focused on Anti-Money Laundering (“AML”) solutions, today announced that it has received a growth equity investment from Marlin Equity Partners (“Marlin”). Marlin is a leading global investment firm with a long track-record of backing and successfully growing software businesses.

SmartSearch plays a leading role in the UK AML market, providing its AML software to 4,000 client firms and 40,000 users, enabling them to comply with the latest AML regulations and fulfill their AML, Customer Due Diligence (CDD), and Know Your Customer (KYC) compliance obligations. SmartSearch’s software is used by 40% of the top 100 accountancy firms, 25% of the top 200 law firms (including three of the top five firms), banks, mortgage intermediaries and estate agents.

SmartSearch enables organisations to carry out AML checks without requiring clients to provide identity documents. Its automated verification approach is significantly more convenient for both users and their end customers, with individual AML checks taking less than 30 seconds and business checks taking less than three minutes to process from start to finish.

It is the only organisation in the UK with the ability to verify individuals and companies in the UK and internationally all in a single platform via a browser or API, with full Sanction, PEP and adverse media screening and then ongoing monitoring.

John Dobson, CEO of SmartSearch said, “We first met Marlin through an investment process we ran to find a partner; the high degree of interest in our business impressed everyone and Marlin stood out from the crowd. It was clear from our first meeting that Marlin has a deep understanding of our sector, our business model and they had done their homework. They quickly demonstrated how they could add value to our business, and we had a strong meeting of minds with a common goal.”

“In SmartSearch we have created a unique AML compliance solution that enables our clients, with minimum effort and cost, to be AML compliant in the world’s most heavily regulated market. With Marlin’s help, we can dominate the UK market and create international versions of SmartSearch to serve new clients in markets around the world.”

“SmartSearch’s robust regulatory compliance platform provides industry-leading accuracy rates and strong customer advocacy.” stated Roland Pezzutto, a principal at Marlin. “With increasing regulatory scrutiny and the desire for seamless customer onboarding, SmartSearch is well-positioned to capitalise on the rapid shift toward digital verification solutions and we look forward to collaborating with an exceptional management team to support the company’s rapid growth trajectory.” For more information on SmartSearch, please visit: www.smartsearchuk.com or for information on Marlin visit: www.marlinequity.com

For further information please contact:

Name: Debbie Staveley, CEO, bClear Communications
Telephone: 0771 896 8434 (m) or 01275 542511 (d)
E-mail: [email protected]

NOTES TO EDITORS

About SmartSearch

SmartSearch is a leading UK provider of Anti-Money Laundering software. Its anti-money laundering verification platform conducts individual and business searches, both for the UK and international markets with automatic worldwide sanction and PEP screening.

It is the only organization in the UK with the ability to verify individuals and companies in the UK and internationally all in a single platform via a browser or API, with full Sanction, PEP and adverse media screening and then ongoing monitoring.

Headquartered in Ilkley, UK, SmartSearch’s very latest technology delivers an unrivalled user experience to over 4,000 client firms and 40,000 users, enabling them to comply with the latest AML regulations and fulfil their AML, Customer Due Diligence (CDD), and Know Your Customer (KYC) compliance obligations. With no requirement for clients to provide identity documents, SmartSearch’s automated verification approach is significantly more convenient for both users and their end customers, with individual AML checks taking less than 30 seconds from start to finish, while business checks take less than three minutes. For more information, please visit www.smartsearchuk.com

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $6.7 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 150 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com

Manoj Ranaweera

Manoj has founded, failed and successfully exited from a number of technology product companies as well as support organisations since 2004. Among them, Northern Tech Awards and edocr.com were acquired by GP Bullhound and Accusoft, Inc respectively. Today, Manoj is building a trusted support network for technology companies. He is working with founding teams to help them accelerate including raising investment and M&A.