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Plenitude acquires Contineo expanding reach in financial crime compliance

Plenitude Consulting acquires Contineo Financial Risk Solutions, expanding its financial crime risk and compliance capabilities, and marking its first acquisition since partnering with Growth Capital Partners.

  • Marina Mouka
  • May 22, 2024
  • 3 minutes

Plenitude Consulting has announced the acquisition of Contineo Financial Risk Solutions Ltd, a provider of specialist Financial Crime Compliance (FCC) technical advisory services. This strategic move comes as Plenitude celebrates its twelfth anniversary and represents the firm’s first acquisition since the investment from Growth Capital Partners in July 2022.

Founded in 2017, Contineo offers specialised advisory services in FCC technology, transaction monitoring, customer and transaction screening, model validation, and data analytics. The company serves clients in the UK, US, Europe, and UAE across various sectors.

This acquisition aligns with Plenitude’s growth strategy to become the leading specialist tech advisor and implementation partner for innovative AI-enabled FCC technology solutions. By deploying machine learning, automation, and cutting-edge data analytics, the firm aims to drive more efficient and effective financial crime risk management for their clients.

Alan Paterson, Founder & CEO at Plenitude, said, “Contineo’s reputation and deep technical advisory capability is impressive. The decision to bring the businesses together felt absolutely right from a strategic standpoint, enabling us to meet the evolving needs of our clients and accelerating the build out of our tech advisory and data analytics practice.

“Plenitude has grown organically over the last 12 years, and we always wanted to ensure that any company joining the Plenitude journey had a brilliant culture and reputation for first class delivery. We look forward to welcoming all of the Contineo team.”

Plenitude acquires Contineo: Synergy and expansion

The acquisition will bring all of Contineo’s employees across to Plenitude, growing it by around 20%.

Munir Merchant, Founder & CEO at Contineo, commented, “On behalf of the Contineo team we are delighted to be joining forces with Alan, Asad and the rest of the Plenitude team, and excited about the opportunities ahead. Contineo and Plenitude have similar beginnings, a common culture, and complementary advisory capabilities which made joining forces a very compelling proposition. Plenitude’s growth story is impressive, they have a fantastic reputation and we are excited to leverage all of the benefits that come from the wider group and capabilities they offer.

“We are looking forward to delivering on the ambition to be the leading specialist tech advisor and implementation partner for innovative AI-enabled FCC technology solutions.”

The acquisition extends Plenitude’s technology solutions, which already include CompassSight, RegSight, and ClientSight. Contineo brings AI-enabled FCC technology solutions, machine learning expertise, and cutting-edge analytics into its portfolio.

Jay Salter, Investment Director at Growth Capital Partners, commented, “I’m delighted to see Contineo joining forces with us at Plenitude and believe this is a highly strategic acquisition and an outstanding opportunity for growth. Contineo’s specialist technology-led advisory skills perfectly complement Plenitude’s subject matter expertise and transformation services to deliver highly valuable business outcomes for a client base with ever-growing FCC needs. We look forward to working closely with Munir and the team to continue Plenitude’s growth journey.”