FullCircl, a UK-based RegTech which is uniquely placed at the intersection where revenue meets regulation, has reported its best ever quarter amid three consecutive quarters of significant growth. The business saw new order intake increase by 96% year-on-year, translating into double digit compound growth in revenue and not at the expense of EBITDA positivity which the Group has maintained. These numbers reflect the unique opportunity FullCircl see to lead in the provision of a single platform that drives revenue accretion and regulatory compliance as a viable alternative to fragmented point solutions.
The lineage of FullCircl, created just two years ago, comes from the integration of three UK businesses – Artesian Solutions, DueDil, and W2 Global Data – brought together with a single platform vision helping customers drive revenue but with a strong emphasis on addressing compliance, risk and regulation from the very beginning.
Andrew Yates CEO at FullCircl commented “Our vision was to create FullCircl as a single platform which uniquely aligns revenue growth with risk and regulatory adherence – as an attractive alternative to fragmented point solutions which make integration across Customer acquisition, onboarding and ongoing monitoring complex, expensive and time consuming, at a time when the pressure is on to reduce complexity, reduce cost to serve and say yes (or no) faster. The response from our customers has been very positive reflected in these numbers. We are now undertaking over half a billion activities each month for our customers.”
Further underpinning this growth, FullCircl has also today announced the successful completion of a debt refinancing round with Salica Investments Growth Debt Fund, providing additional working capital to take advantage of its positive momentum. The largest debt deployment in the history of the Salica Growth Debt Fund, this deal underscores the strength of FullCircl’s proposition and market confidence in its ability to continue on such a strong growth trajectory.
This new injection of capital will be pivotal in fuelling the next stage of FullCircl’s journey – helping fund its extensive new product development in the area of transaction monitoring, adding to its existing AI capabilities, grow its share of the identity verification (IDV) market, deepen its broad range of Smart capabilities, and strengthen its strategic partnerships.
“The decision to back FullCircl was compelling” said Usman Ali, Partner at Salica Growth Debt Fund, speaking about the debt provision “FullCircl is in a unique position in its market, poised to capitalise on previous investments and is now starting to exploit the opportunity. With double-digit growth and near-perfect customer retention in its key segments, this is a business that knows how to execute. The debt facility we have provided, the largest in our company’s history, is a reflection of the exceptional team at FullCircl who are solving a critical and complex challenge, that’s worsening for many regulated businesses who are seeing an increase in fraud, driven by new generative AI technologies.”
Andrew concluded: “I would like to thank every member of our team for their contribution in helping us achieve this significant growth milestone – the strongest growth period in the history of FullCircl is validation of our efforts to integrate three leading specialists into a single RegTech platform with a revenue angle. As a company which has been profitable for a long period, the backing from Salica Investments creates additional working capital to invest in future growth as we strive to increase our market share and continue evolving our services for the needs of our customers.“
