nCino Acquires FullCircl for $135 Million

nCino has announced its acquisition of FullCircl, a UK-based customer lifecycle intelligence platform, for $135 million in cash. This strategic move aims to enhance nCino's capabilities in client lifecycle management and onboarding processes by integrating FullCircl's advanced technology. The deal includes a provision where $15 million of the purchase price will be held for two years as security against certain warranties stipulated in the purchase agreement.

FullCircl, established in 2006, specializes in providing a B2B Software-as-a-Service platform that improves customer onboarding and facilitates risk and compliance management. The platform delivers actionable insights for due diligence processes, including Know Your Customer (KYC) and Anti-Money Laundering (AML), by processing around 300 million checks monthly and onboarding over 200,000 customers per month across its 400 clients.

nCino and FullCircl are familiar partners, having collaborated since 2023, when nCino incorporated FullCircl's data capabilities into its own services. According to Pierre Naudé, chairman and CEO of nCino, this acquisition will allow the company to broaden its footprint in the UK and Europe, offering a comprehensive client lifecycle management experience.

This acquisition follows nCino's earlier purchase of fintech startup DocFox in March, which provided software designed to streamline the commercial bank account opening process. By leveraging FullCircl's expertise, nCino aims to further solidify its position in the cloud banking sector while enhancing its service offerings.