Dublin startup KYC to raise €5m after Hong Kong deal

To date, KYC has been self-funded as it won customers in Ireland and the UK but it has just received a €250,000 investment from Enterprise Ireland. Stock image

Fearghal O'Connor

Irish startup Know Your Customer (KYC) plans to raise up to €5m in the coming weeks to fund expansion after signing a breakthrough Asian deal with a Hong Kong current account provider.

KYC, which has built a system to make it easier for banks and other financial institutions to meet regulatory requirements around checking the identities of new customers, is also in talks with a number of so-called 'Tier One' international banks based in the Asian financial hub.