nCino acquires FullCircl in $135m deal
Cloud banking solutions provider nCino has signed a definitive agreement to acquire FullCircl, a UK-based customer lifecycle intelligence (CLI) platform, for $135 million in cash.
nCino snaps up FullCircl for $135 million
nCino says that $15 million of the purchase price will be held by the company for two years as “security for the performance of certain warranties and covenants arising under the purchase agreement”.
Founded in 2006, FullCircl is a B2B Software-as-a-Service (SaaS) platform that streamlines customer onboarding and supports risk and compliance management by delivering actionable daily insights for due diligence processes like KYC and AML. These insights include risk profiles, import/export data, legal notices, adverse director history, financial details, credit scores, and other key profiling data.
The company says it processes 300 million checks monthly and supports the onboarding of 200,000+ customers per month for its 400 clients and more than 15,000 users.
Additionally, Pierre Naudé, chairman and CEO at nCino, states the strategic move will enable the firm to “expand our reach across the UK and more broadly in Europe with an end-to-end experience for full client lifecycle management”.
This latest acquisition follows nCino’s purchase of fintech start-up DocFox in March, a provider of commercial bank account opening software built to help automate and streamline the customer onboarding process.
