SPARK had invested £0.7m in Dec 2006 and a further £0.8m in May 2007. The revaluation upwards reflects the terms of a financing.
Complinet Group is a leading provider of online regulatory solutions for the global financial services industry. Complinet, founded in 1997, is headquartered in London and is unique in the financial services industry. It currently services over 1,200 companies, including approximately 80 percent of the world’s leading financial services firms. The company’s solutions combine deep regulatory insight with innovative technology that provide timely information, analysis and risk management services to more than 100,000 compliance and legal professionals across 81 countries
Since the investment the company has exhibited strong revenue growth and in order to build out its international presence and enhance the product portfolio as well as provide some liquidity to early investors the company completed an £18.5m financing with Fidelity Equity Partners. This should provide the foundations and stability for continued growth.