UK RegTech platform NorthRow has appointed boutique investment advisory firm Lazarus Consulting to explore options for growth investment or a full sale of the business.
Founded in 2010, London-headquartered NorthRow provides anti-money laundering and identity and verification software services to companies that operate in regulated industries. The platform aggregates trusted data from a range of global sources, covering over 220 jurisdictions and 13,000+ document types.
The business, which has previously raised over £17 million from VC investors, is now moving from a sales-led to a product-led growth strategy in a bid to capture a bigger market share, and appointed advisors to explore its strategic options.
Andrew Doyle, executive chair & CEO of NorthRow, says: "We now want to fast-track our growth, relying more on our state-of-the-art tech platform to help secure new customers at a faster pace. Additionally, we feel that now may well be the right time for a strategic partner to join us on our journey".
He says exploratory conversations have already commenced with a number of potential domestic and international firms.