UK’s NorthRow Hires Lazarus Consulting To Explore Options For Growth Investment Or A Full Sale
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The UK-based RegTech platform NorthRow recently appointed a boutique investment advisory company by the name of Lazarus Consulting. It requested that Lazarus explore potential options for the firm, including growth investment or even a full sale of the business.
NorthRow is a firm that has been around for 15 years now, after being founded in 2010. It is headquartered in London, and it provides anti-money laundering (AML) and identity and verification software services to other companies operating in regulated industries.
The firm aggregates data from a range of trusted sources around the world, and it covers more than 220 jurisdictions, with over 13,000 document types.
NorthRow Is Looking For A Strategic Partner
The business attracted a lot of attention and optimism over the years, and it even managed to raise over 17 million pounds from venture capital (VC) investors. However, in more recent times, it started moving from a sales-led to a product-led growth strategy. This shift came in an attempt to capture a larger market share.
NorthRow even appointed advisors to explore its strategic options, as mentioned. Its executive chair and CEO, Andrew Doyle, stated that the company now wants to fast-track its growth, and rely more on its state-of-the-art tech platform, believing it could secure new customers at a considerably faster pace.
On top of that, Doyle added that the firm feels that now may also be a good time for a strategic partner to join NorthRow on its journey.
Hinting further at this being a very likely option, he said that the company had already engaged in exploratory conversations with multiple domestic as well as international companies that could fill the role of a potential partner. The conversations with these various firms ave commenced, but so far, NorthRow has not yet decided on which firm to team up with, as it awaits reviews and advice from the experts.
