MyComplianceOffice confirms €10m debt financing deal

Irish fintech company MyComplianceOffice (MCO) has confirmed it has secured close to €10 million in debt financing from Silicon Valley-based investment firm Accel-KKR Credit Partners.

The Dublin-based company provides compliance management software that enables companies to reduce their risk of misconduct. Its software platform monitors employee stock trading, manages material non-public information, analyses vendor risk, and performs other key compliance requirements.

Founded in 2005, MCO has more than 380 customers across 80 countries with clients including Piper Jaffray.

Software

"Today, MCO is a leader in compliance software but we started from humble beginnings," said founder and chief executive Brian Fahey. "We have been self-financed since the beginning and grew over the years by listening to our customers and building solutions that they need."

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“When we considered bringing on institutional capital to consolidate ownership amongst the lead internal shareholders, we were very selective. We wanted to work with a firm that understood entrepreneurship and particularly, software business models – and Accel-KKR was the perfect fit. We are excited about the next phase of our trajectory,” he added.

In 2020, MCO appeared on Deloitte’s ranking of the 50 fastest growing tech companies in the Republic, which is based on average revenue growth over four years. It was also on the shortlist of Ibec-affiliated Technology Ireland’s Tech Company of the Year award.

Headquartered in Menlo Park, Accel-KKR is a technology-focused investment firm with over $10 billion (€8.273bn) in capital commitments. It has completed over 30 investments and deployed over $350 million in capital since it was founded in 2000.

Among the Irish companies it has previously backed are Clavis Insights, which was acquired by London-listed firm Ascential for an initial cash consideration of $119 million in late 2017.