Thirdfort secures Series A follow on investment from Knight Frank, Grosvenor Hill Ventures and Chestertons
The property agents backed Thirdfort to support product development and adopt the compliance platform.
Thirdfort operates a risk management platform combining Know Your Client, Anti-Money Laundering and Source-of-Funds verifications. The company protects property and legal professionals against fraud during major transactions.
Thirdfort has secured a Series A follow on investment from property agents Knight Frank, Grosvenor Hill Ventures and Chestertons. The strategic backers will adopt the platform across their residential sales operations while supporting ongoing product development. The funding will allow the firm to refine its offering for lettings and explore applications in mortgages and commercial sales.
All three investing businesses completed pilots or agreed to trials following the funding, aligning with Thirdfort as regulatory burdens increase across the property sector. The platform currently serves more than 850 estate agents, conveyancers and law firms.
From the founder
"All estate agents are having to navigate the rapidly escalating AML regulations, with HMRC requesting more than just a simple PEP screen, yet legacy AML solutions do not cater to the new world of risk. We saw a huge opportunity to build the first platform that actually protected against money laundering, leveraging Open Banking and 12 third party KYC suppliers, packaged into a mobile app that turns seamless compliance into a competitive advantage."
Olly Thornton-Berry
Managing Director at Thirdfort
Investor perspective
"Having recently completed a pilot of Thirdfort’s platform we believe it could offer our clients and staff a more streamlined and secure approach to KYC, AML and SoF checks. By using Open Banking, cryptographic and biometric verification, and real-time ongoing PEPs and sanctions monitoring, the platform will help automate compliance requirements while reducing the risk of fraud and money laundering."
Egita Cepurnaite
Head of AML, Chestertons
Use of funds
- 01Continue product development