Contego secures £3.5m in new growth capital

Contego, a leading provider of ID verification, AML and KYC solutions has secured £3.5m funding led by Maven and NVM.

Contego works across the property, banking, financial services and public sectors, performing a wide array of screening, verification and vetting assessments including: Know Your Customer (KYC); Anti Money Laundering (AML); Right to Work checks; Right to Rent checks and Counter-Party Risk Management.

The Cass Entrepreneurship Fund was one of Contego's original investors, supporting early-stage growth and development of the technology and team.

Maven invested £1.8m as part of the new funding round, while NVM Private Equity invested £1.5m alongside existing investors.

Contego said it will use the funds to expand product development, add commercial resources and enter new markets.

Adrian Black, founder and CEO of Contego, said: “Given increased regulatory pressures and the significant benefits our platform has demonstrated with clients to date, we are pleased to receive investment from Maven and NVM that allows us to expand our operations to support customer demand and new partnerships.”