Pliance, the Stockholm-based AML automation platform, has been acquired by Verified, a leading B2B SaaS company specializing in AML and KYC solutions. This acquisition comes on the heels of Verified’s recent €31 million investment from Verdane and its acquisition of Assently, a digital identity verification company. With this strategic move, Verified strengthens its position in the European market and expands its offering to include a comprehensive suite of KYC and AML solutions. The integration of Pliance’s advanced technology with Verified’s existing services will enable businesses to navigate complex regulatory requirements more efficiently. This acquisition reflects Verified’s ongoing expansion strategy in response to the increasing demand for reliable compliance tools.
“With the acquisition of Pliance, Verified is poised to become the go-to partner for organizations seeking cutting edge, fully integrated compliance solutions,” said Tommy Jarnemarck, CEO of Verified. “By combining the innovative technology and domain expertise of Pliance with our already robust offering, we will deliver an unparalleled level of service to our customers, helping them navigate the ever-evolving regulatory landscape with ease and confidence. We are excited to welcome Siam and his team to the Verified family, joining our mission to support customers with a full-service solution for your business’ compliance needs.”
The acquisition comes at a time when demand for reliable and efficient KYC and AML compliance tools has never been higher. As regulators continue to tighten their grip on the financial services, real estate and professional services industries, businesses are increasingly seeking out trusted partners to help them meet growing compliance requirements.
Pliance’s platform uses API-led advanced automation to streamline the compliance process, reducing the burden on businesses and increasing their ability to detect and prevent financial crime. This technology will complement Verified’s existing suite of KYC/AML services, including its partnership with their most recent acquisition, Assently, which specializes in secure and user-friendly digital identity verification.
“We are excited to join the Verified family and contribute to the company’s mission of delivering best-in-class compliance solutions to businesses across Europe,” said Siam Choudhury, CEO of Pliance. “Our combined expertise and technological capabilities will enable us to provide an even more comprehensive and seamless compliance experience for our clients. As well as being an excellent culture fit, we share a strong commitment to our customers.”
“Our research shows that the KYC and AML software market in Europe is expected to grow by +17% CAGR and be worth around €4bn by 2027,” said Nils Vold, Partner at Verdane. “Verified is in a unique position to capitalize on that opportunity. The company is growing organically at an impressive rate, and with Verdane’s backing Verified will continue to expand its offering through further acquisitions to become a European powerhouse. We’re delighted to welcome Pliance on board, and to congratulate Verified on another step towards market leadership.”