Irish fintech firm MyComplianceOffice (MCO) has confirmed it has secured nearly â¬ 10 million in debt financing from Silicon Valley-based investment firm Accel-KKR Credit Partners.
The Dublin-based company provides compliance management software that helps businesses reduce their risk of misconduct. Its software platform monitors employee stock transactions, manages material non-public information, analyzes vendor risks, and fulfills other key compliance requirements.
Founded in 2005, MCO has more than 380 clients in 80 countries, including Piper Jaffray.
âToday, MCO is a leader in compliance software, but we started with humble beginnings,â said Founder and CEO Brian Fahey. âWe have been self-funded from the start and have grown over the years listening to our customers and building the solutions they need. “
âWhen we considered bringing in institutional capital to consolidate ownership among the major internal shareholders, we were very selective. We wanted to work with a company that understood entrepreneurship and especially software business models – and Accel-KKR was the perfect fit. We are excited about the next phase of our trajectory, âhe added.
In 2020, MCO was included in Deloitte’s ranking of the 50 fastest growing tech companies in the Republic, which is based on average revenue growth over four years. She was also shortlisted for the Tech Company of the Year award from Technology Ireland, affiliated with Ibec.
Based in Menlo Park, Accel-KKR is a technology-driven investment firm with more than $ 10 billion (â¬ 8.273 billion) in capital commitments. It has made more than 30 investments and deployed more than $ 350 million in capital since its inception in 2000.
Among the Irish companies it has previously supported is Clavis Insights, which was acquired by London-based Ascential for an initial cash consideration of $ 119 million in late 2017.