Edinburgh tech outfit goes for growth with US help

An Edinburgh-based start-up that develops software making it easier for people to access professional services has won a string of new clients and attracted investment from a US fund.

Amiqus Resolution said San Francisco-headquartered Fifth Era Fund had invested in it after the fledgling business was brought to the fund’s attention following the EIE17 event at the capital’s EICC earlier this year. Amiqus chief executive and co-founder Callum Murray won the “pitch of the day” award at the Informatics Ventures-run gathering in May.

Amiqus’ first product is said to make client intake and onboarding compliance “simple, efficient and secure for regulated professions”. It is being rolled out at a time when data privacy legislation becomes a hot topic alongside broadening regulation and oversight from the UK financial watchdog.

Following engagement with the start-up and technology ecosystems around Scotland, law firm Thorntons – one of Amiqus’ recent client wins – is now working closely alongside the team and the Amiqus ID compliance product is being integrated within the practice’s systems.

Founded by Murray and a group of domain experts in 2015, Amiqus reached a revenue-generating position within its first 12 months. The firm’s team, based between Edinburgh, London and Cambridge, currently numbers 16 with continued growth planned for the new year.

Murray said: “It’s encouraging to see the traction we’re making across professional services sectors in the UK. We’re building a strong client and revenue base early with our first product, whilst staying true to our values, a trend which we’ll maintain.

“The next 12 months will centre around building long-term relationships and shareholder value. We’ve seen strong interest internationally and will be moving in that direction when the time is right.”

Alistair Lang, partner at Thorntons, said: “In a competitive marketplace primarily of data aggregators and resellers, Amiqus stands out with an incredibly strong team for an early stage company, with a robust product, excellent market opportunity and the company’s values as a whole.

“By verifying clients and handling compliance online in a matter of minutes in a secure encrypted process, Amiqus ID is reducing time-consuming paper-based compliance work to a minimum whilst vastly improving client experience. We’re delighted to work with and support the company as they continue on their growth journey.”

Amiqus recently completed its latest and over-subscribed funding round in six weeks with a prominent set of investors from the entrepreneurial and financial scene including former Dickson Minto stalwart Kevan McDonald, Bill Toner and Tim Jones of CH&Co, former Standard Life chief Sir Sandy Crombie, former BGI/BlackRock CFO Alison Davis through Fifth Era Fund and a number of other investors aligned with the Leith-based Seed Haus fund.

Murray has been shortlisted in the Rising Star Entrepreneur of the Year award category at Entrepreneurial Scotland’s awards and follows Amiqus winning best Scottish start-up in the Barclays Entrepreneurs Awards last month.