Nect acquires Acadias, a provider of a fully automated platform for KYC and KYB checks, to expand its products with a key component of anti-money laundering (AML) compliance. Both parties have agreed not to disclose the terms of the acquisition. Till Kramer, who co-founded Acadias in 2023 with Louis Thissen, will join the Nect team as part of the acquisition and will focus on product innovation.
Through this acquisition, Nect further expands its expertise in personal identification and verification. The Acadias platform automates and digitizes the due diligence of natural and legal persons for obligated entities such as lawyers, notaries, tax advisors, or real estate agents, and offers AI-supported risk analyses as well as secure client management. This enables users to implement AML compliance efficiently, legally, and in accordance with data protection regulations.
Nect as an all-in-one solution for regulated companies
With the integration of the Acadias platform, Nect can expand existing products and services like Nect Ident and Nect Sign to include AML checks. This allows Nect customers to use a holistic solution that also includes the screening of sanction lists and politically exposed persons (PEP). Regulated companies sometimes have to purchase an ID verification service, a sanction list, and PEP data or certificates for e-signatures from different providers and build them around the user experience and orchestration software (KYC).
Benny Bennet Jürgens, Founder and CEO of Nect: “The most efficient way to accelerate the transition into the digital age, together with legally regulated companies such as AML-obligated entities, is to build an end-to-end Trust Service Provider that delivers an all-in-one solution. This way, we offer the Trust Layer as a unit between customers and companies.”
The services can be integrated via an API into online services and procedures, and can also be used via the Nect Portal by, for example, compliance managers.
Acquisition underscores Nect’s growth objectives
Nect recently received a revenue-based investment of 2.5 million euros from the Vienna-based growth investor Round2Capital received. A portion of the funds will now be invested in the acquisition of Acadias and the associated expansion of the product portfolio. The expansion of the Nect platform also aims to strengthen Nect’s position within Europe.
Jürgens: “The integration of Acadias is a sensible and consistent addition to our growing portfolio, enabling us to serve various industries even better in the future. The acquisition of Acadias accelerates our mission to become the trusted advisor between users and service providers. And it is our first inorganic step on the mission to become Europe’s largest Trust Service Provider.”
