Thursday August 18, 2022

New investment as specialist financial crime consultancy firm targets growth

Plenitude Consulting (Plenitude), a London-based consultancy firm specialising in financial crime risk and compliance, has secured new growth capital with the support of FRP Corporate Finance.

Founded in 2012, Plenitude helps its clients to meet regulatory requirements and reduce their exposure to the risk of financial crime through advisory and transformation services. It works with a range of financial institutions, professional services and digital asset firms worldwide.

With demand for its services increasing as the global regulatory landscape continues to evolve, Plenitude has secured a minority investment from private equity firm Growth Capital Partners (GCP) to support organic growth and international expansion.

GCP’s investment will support Plenitude as it expands its service offering, including its Digital Assets advisory service, which provides specialist cryptoasset regulatory advice, and its Know Your Customer (KYC) Managed Services, which supports firms with their client due diligence requirements.

The investment will also accelerate Plenitude’s international expansion plans. This includes growing its footprint in Asia and in new global sectors through its advisory, transformation services and regulatory technology (RegTech) subscription products.

FRP Corporate Finance, led by Partner Mark Farlow alongside Senior Manager Ed Shurville-Darlington was appointed by the shareholders of Plenitude to market the business to potential private equity backers. The team, which included Ed Shurville-Darlington and Jonathan Gonszor, ran a competitive process amidst strong investor appetite.

Alan Paterson, Managing Director at Plenitude, said: “We are delighted to have secured GCP as our investment partner at an important stage of our growth journey, and to leverage their investment, expertise and network to execute on our business strategy.

“The quality of advice and market expertise from the team at FRP Corporate Finance was exceptional. We are grateful for their support in securing growth capital from GCP, our clear partner of choice.”

Mark Farlow, Partner at FRP Corporate Finance, added: “The regulatory landscape continues to evolve at a rapid pace, with a number of new developments this year and more planned in the months ahead. This poses a significant challenge for financial services firms as they monitor and adapt to changing requirements, which has in turn led to strong demand for Plenitude’s services. The team has a reputation for its deep understanding of regulatory expectations and specialist expertise, and we’re pleased to have helped them to secure an investment partner that shares their values and growth ambitions.”

Fladgate provided legal advice to Plenitude on the deal.