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18 March, 2021 - 14:08 By Tony Quested

Arachnys deal marks CCG’s 10th exit in five years

Cambridge Capital Group portfolio company Arachnys, an innovative Reg-Tech platform, has been acquired by Ohio-based AML Rightsource, a leading firm in financial crimes compliance solutions. 

The deal marks CCG’s 10th successful exit in five years – a rate CCG says is unparalleled amongst angel investment networks in Britain.

Cradled in and emerging from the Springboard Cambridge programme to win significant investment from Cambridge angels, Arachnys’ technology platform uses intelligent data from KYC (Know Your Customer) and AML (Anti-Money Laundering) processes to allow for an optimised customer onboarding and information flow.

The platform serves financial institutions, asset management firms, FinTechs, insurance providers, pharmaceutical manufacturers, oil and gas companies and commercial real estate firms.

As an early angel network in Cambridge, CCG provides a platform for private investors to access screened and qualified deals exclusively from within the UK’s top deep-tech B2B technology cluster. 

Arachnys was one of several opportunities sourced each year from the group’s proprietary network of co-investors, advisers and sponsors – at the heart of the Cambridge ecosystem for over 20 years.

Struan McDougall, director at CCG, said: “We’re thrilled about the success of Arachnys, who with hard work have broken new ground in reg-tech that will have a significant impact in the field. 

“The deal also proves that investing in innovation at an early stage can produce very good returns to risk investors, as corporates like AML Rightsource continue to recognise the value of technology developed in key innovation centres in Britain.” 

David Buxton, CEO and founder of Arachnys, will continue leading Arachnys and will join AMLRS as chief product officer.

He said: “Arachnys was funded from startup to exit largely by business angels including Cambridge Capital Group who were extremely supportive of the business over the various phases of early-growth. 

“Now it’s an exciting time to join AML RightSource and we look forward to adding our technology and expertise to an industry-leading and rapidly growing organisation.

“Together, we can offer a wider and more sophisticated range of scalable, KYC and anti-financial crimes compliance solutions, helping our customers reduce the friction of onboarding, monitoring, and AML investigations.” 

Cambridge Capital Group is a group of private investors and was the first formal network of angel investors in Cambridge, formed in 2000. The 12 founding members has grown to a group of over 80 business angels from diverse industry sectors, high net worth families, venture seed funds and corporate venturers. 

Cambridge Capital Group has offices in a new innovation hub, The Bradfield Centre on The Science Park in Cambridge.

Founded in 2010, Arachnys has helped some of the world’s biggest banks avoid regulatory fines and remediation costs while significantly improving operational efficiency.

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