Kord secures £6.4m to process payments for regulated industries

UK fintech Kord has raised £6.4m in a Series A round led by Guinness Ventures with participation from Beringea, SFC Capital and angel investors. 

Kord strives to make onboarding clients, identity verification and payment processing simpler and more secure across regulated industries. Its end-to-end platform is regulated by the FCA and used by estate agents and letting agents, law firms, conveyancers and financial services companies. 

Annually, over half a million failed housing deals account for a £950m economic hit. Kord says it enables businesses in regulated industries to safely verify customer identities and complete transactions digitally without delays. 

The company replaces a patchwork of legacy tools by unifying ID verification, anti-money laundering (AML) and compliance checks, onboarding and document signing, and payment processing into a single platform. This enables clients to accelerate onboarding, save money and stay compliant in an ever-evolving regulatory landscape.

Kord says it also helps counter AI-enabled fraud by verifying client documents against a broader range of data sources. 

The Series A investment will be used to continue growing the Kord team and drive product development to support new customer acquisition. 

“For firms in regulated industries, relying on fragmented legacy systems that fail to meet the demands of modern digital commerce slows transaction speeds and increases risk. We created Kord to change that,” says James Owusu, CEO and founder of Kord. 

“Our modular tech stack is built with independent, interchangeable components, enabling flexibility and adaptability for our clients as we scale. This new funding allows us to protect more businesses and develop new capabilities. I’m incredibly excited for our next stage of growth.”