Tech Tycoon Richard White Purchases KYC Firm Kyckr

The ASX-listed corporate KYC startup Kyckr has been bought by Australian tech billionaire Richard White.

WiseTech founder White purchased all of Kyckr through his own investment firm RealWise. WiseTech is a global leader in logistics.

Firms can do real-time due diligence on more than 120 million companies worldwide because Kyckr has access to aggregated corporate Know Your Customer and Ultimate Beneficial Owner data from more than 300 company registries and primary regulatory sources around the world.

According to the company, by better knowing their clients and suppliers, organizations may reduce their exposure to commercial risk, stop financial crimes like money laundering, and assure regulatory compliance.

Says White: “I see in Kyckr the opportunity to replace manual processes and aggregate real-time data from disparate sources to provide a scalable, reliable, highly compliant, and cost-effective KYC/KYB/UBO tech platform solution in the same way that WiseTech’s CargoWise has replaced multiple single-point legacy systems in the complex and fragmented global logistics sector with integrated global technology that drives productivity, reduces compliance risk and facilitates planning, visualization, and control.”