Kyckr, a London, UK-based corporate KYC company providing businesses with legally-authoritative real-time data on prospective and existing customers and suppliers, has been acquired by Australian tech-entrepreneur and WiseTech Global Limited founder Richard White through his personal investment vehicle RealWise KYK AV Pty Ltd.
The amount of the deal was not disclosed.
Led by Ian Henderson, CEO, Kyckr is a B2B information services company that aggregates, organises and structures the world’s primary source company data to help businesses reduce the risks associated with counterparty relationships. It provides accurate data with trusted, legally-authoritative provenance. This helps organisations to avoid the significant regulatory and commercial costs associated with using poor quality data. This allows organisations to minimise their exposure to commercial risk, prevent financial crime such as money laundering and ensure regulatory compliance by better understanding their customers and suppliers.
Commenting on the acquisition, Mr White who founded and owns over 40% of WiseTech Global, one of the most valuable tech companies on the Australian Securities Exchange, with a market capitalisation of over A$16 billion said: “I see in Kyckr the opportunity to replace manual processes and aggregate real-time data from disparate sources to provide a scalable, reliable, highly compliant and cost effective KYC/KYB/UBO tech platform solution in the same way that WiseTech’s CargoWise has replaced multiple single-point legacy systems in the complex and fragmented global logistics sector with integrated global technology that drives productivity, reduces compliance risk and facilitates planning, visualisation and control.”
Richard White is an Australian based tech billionaire and founder of WiseTech Global, a developer and provider of software solutions to the logistics execution industry globally. WiseTech’s customers include over 18,000 of the world’s logistics companies across more than 165 countries, including 42 of the top 50 global third-party logistics providers and 24 of the 25 largest global freight forwarders worldwide. Its flagship platform, CargoWise, forms an integral link in the global supply chain and executes over 72 billion data transactions annually.
Mr White is also an investor in a number of other technology companies including Songtradr; Espresso Displays and Genics. He holds a Masters of Business Information Technology (MBIT) from the University of Technology Sydney (UTS), is a Fellow of UTS, one of UTS’ Luminaries, an Adjunct Professor, Faculty of Engineering & Information Technology (FEIT) UTS and a Fellow of the Australian Academy of technological Sciences and Engineering (ATSE).
FinSMEs
12/01/2022