SmartSearch, a leading UK provider of digital compliance and anti-money laundering (AML) software, has chosen Triple Private Equity to support its next phase of growth having been backed by Marlin Equity Partners in 2018.

In a little more than a decade, Ilkley based SmartSearch has grown from a Regtech start-up, to a trailblazing technology company that is driving the digital compliance revolution.  Its innovative platform and technology enables firms to navigate ever-increasing regulatory demands including AML compliance, customer due diligence, Know Your Customer (KYC) and Know Your Business (KYB) procedures.  SmartSearch serves over 1,000 property firms, one in two of the top 100 accountancy firms and one in three of the top 200 legal firms.

The transaction marks the first investment made by Triple’s inaugural Fund I, which is focused on investing in mission critical vertical software and data B2B businesses headquartered in the UK and Nordic regions and has deep domain expertise in Governance, Risk, and Compliance (GRC).

We were introduced to SmartSearch founders Martin Cheek and John Dobson through their prior involvement at our client Callcredit and quickly became their trusted adviser on the Marlin investment and have remained in such position throughout that investment cycle and this recent transaction.

The founders continue to hold a significant minority equity interest in the business.

Martin Cheek, co-founder and managing director of SmartSearch, said: “This major investment is a true testament to the hard work of our nearly 200-strong team who, alongside Triple, will be instrumental in this next stage of growth.  The journey has been one hell of a rollercoaster and the guidance and support from Park Place has been invaluable with respect to clarifying our objectives and truly understanding the complex world of private equity investments and capital structures.”

We are excited about the next phase of growth with the investment from Triple which will enable it to build on the foundation of innovation and solid business leadership, which has made it one of the leading regtech companies in Britain and holder of the Great Place to Work® accreditation.

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