LAB Group was co-founded in 2010. Since launch, the group has deployed its technology across Australian and international financial services licensees, as well as businesses in other sectors, whilst establishing offices in Melbourne, Sydney, Brisbane, and Copenhagen.
Having partnered with some of Australia and the world’s most recognised and respected institutions, LAB Group’s innovative onboarding and compliance platform solves the key governance, risk, and compliance challenges that regulated entities face. GCI’s investment will support LAB Group to accelerate its business and product development activities, providing working capital to fund domestic and international growth opportunities.
Officials from LAB Group said they are happy to welcome GCI as an investor. The backing of an investor of GCI’s calibre will bring the support they need to further strengthen and scale up the team and accelerate their growth strategy. They are particularly pleased to have found a capital investment solution which will help them take their business to its next growth phase while minimising shareholder dilution.
LAB Group’s platform delivers significant advantages to its clients, encompassing a dynamic onboarding framework providing end-to-end account opening and digital workflow management, an easy-to-integrate ID verification solution validating AML, KYC, KYB, and PEP Sanctions for all entity types, and a network of global products and jurisdictions that enables the seamless consented movement of consumer profile data.
Commenting on this investment, GCI’s representatives said they are happy to announce their partnership with LAB Group as they embark on their exciting growth journey. LAB Group embodies all the qualities they seek in an emerging high-growth company, from a proven product-market fit to outstanding customer metrics. With a skilled founder-management team driving their growth strategy and a substantial market opportunity supported by structural growth, they are confident in their future success.
LAB Group is a leading regtech company offering an innovative KYC and Onboarding platform that streamlines the customer journey while ensuring compliance with AML/CTF regulations. Their platform automates account creation and customer lifecycle management, saving time and resources.
LAB connects tens of thousands of individuals with diverse financial products across 15+ industry verticals. Through strategic partnerships, their LAB Network facilitates quick customer registration, reduces onboarding time, enhances security, and improves completion rates for regulated entities globally.
The company’s advanced Software-as-a-Service (SaaS) platform integrates digital client acquisition, ID verification, biometrics, workflow management, fraud protection, and compliance services, enabling businesses to navigate changing regulations and evolving customer expectations seamlessly.
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