GeoComply has announced that it has reached a definitive agreement for minority investments led by funds managed by Blackstone Growth and Atairos, terms of which have not been disclosed.
The move represents the first commitment of institutional capital to the company, and aims to support GeoComply’s continued growth in its core markets and help accelerate expansion into new verticals.
“Our mission at GeoComply is to empower the future of digital trust, and with Blackstone and Atairos as investors, we are taking a material leap forward to make it a reality,” explained Anna Sainsbury, founder and chairman of GeoComply.
“GeoComply has received countless investment enquiries over the past few years but was in the fortunate position to wait until the right opportunity came along. In Blackstone and Atairos, we found the investors we were looking for, not only with deep insight into software and gaming, but also the financial services and broadcasting verticals.
“We valued their ability to trust and empower founders like David and me to maintain our company values as we execute to our fullest potential. Their integrity and professionalism throughout the process was exceptional and we welcome their expertise and guidance as we grow our business and move into new markets.”
The geolocation compliance technology specialist supports the location verification requirements for igaming, broadcasting and fintech, and has this year established its Conscious Gaming independent philanthropic organisation.
Vishal Amin, a managing director at Blackstone Growth, added: “We are deeply proud to have been selected as GeoComply’s first institutional backers and invest in a clear market leader.
“We believe the company is poised for significant further expansion in the years ahead – particularly given their mission-critical role in delivering compliance software solutions to the fast-growing, global online gaming and sports betting industry.
“Anna and David have built an incredible business, and we are excited to work closely with them as they look to further increase the company’s already strong leadership position into new markets and opportunities.”
