The ID Register, has spun out of Apex Group Ltd. in a management buyout led by its Founder, Tim Andrews and funds consulted by Perscitus LLP. The transaction completed on September 24, 2020 and terms were not disclosed.
The ID Register aims to become the central clearinghouse for KYC and investor onboarding and has grown to over 25,000 investor profiles. Each investor controls their own information in a profile, which, once approved, they can connect to their investments and service providers like a ‘passport’. As a neutral hub, The ID Register will expand its base of alliance partners and clients; extend its regulated services and invest heavily in support of its technology and operating model.
Tim Andrews, Founder of The ID Register comments: “A one-and-done subscription and KYC solution provides an obvious advantage for investors, fund managers and service providers alike, especially in a post-pandemic world where technology underpins great service and efficiency. We have a strong team and will now invest for growth as we increase the pace of our technology development; become regulated; and extend the depth and range of our services. I am grateful for the support of Peter Hughes and the wider Apex team and we are excited about our next stage of growth as an independent company.”
David Rhydderch, Global Head of Financial Solutions, Apex Group, added: “We have enjoyed working with Tim and the management team of The ID Register over the last four years and we look forward to remaining an alliance partner, supporting the company as it continues on its growth trajectory. We will follow the company’s growth closely and with interest as they pursue their strategy as an independent hub for the funds and corporate services industry.”
Headquartered in Guernsey, The ID Register was established in 2016 and currently employs ~ 20 developers and operational analysts.
The transaction support was provided by Carey Olsen and the London teams of Dow Schofield Watts including Dave Graham, Richard Hooper and Ellen Little.
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