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Apax Funds, with participation from Aquiline, invest in GAN Integrity to accelerate growth

New York, Oct. 26, 2023 – GAN Integrity, a pioneer of no-code risk, ethics, and compliance management technology announced today a significant growth investment round led by Funds advised by Apax ("Apax Funds") with participation from an existing investor, the venture capital team at Aquiline Capital Partners LP, Aquiline Technology Growth ("Aquiline").

The significant investment by Apax Funds and Aquiline (ATG) will further accelerate the growth of GAN Integrity, the industry’s leading provider of technology that enables proactive, integrated, and real-time management and monitoring of third-party and employee risk, ethics, and compliance programs. The investment will enable GAN Integrity to accelerate the development of its pioneering platform and better serve the growing demands of the world’s leading brands.

Founded in Denmark in 2004, GAN Integrity provides cloud-based software solutions covering internal and external risk areas including third-party due diligence, disclosures, incident, and risk management, as well as multiple risk domains within third-party risk management. At its core, the Integrity Platform, a no-code, workflow orchestration platform, enables ethics and compliance teams to effectively assess and manage risk while affecting change by driving proactive ethical and compliant behaviour across the enterprise. The platform’s unified view of both internal and external risks, combined with its automation capabilities, transforms an organisation’s ability to create a holistic view of its risk landscape and deploy a control environment to manage exposure and unlock sustainable growth.

Risk & compliance applications on the Integrity Platform benefit from a unified data-structure, no-code workflow technology and granular role-based access control. Every application built on the Integrity Platform, from third-party risk management to conflicts of interest, gifts, donations, antitrust, risk assessments and more, empowers companies to design and deploy tailored solutions that accommodate unique organisational setups and internal processes to drive meaningful outcomes and actionable business intelligence. The Integrity Platform empowers compliance teams with cross-application reporting connecting external and internal risks, closing the gaps on functional and data silos for a true holistic management of enterprise risk.

Nicholas Manolis, CEO, GAN Integrity, said: "We’re incredibly excited to partner with Apax in this next stage of our journey. This investment provides us with the resources and flexibility to execute on our ambitious customer product road map and growth plans, providing even more organisations around the world with a platform that makes good governance effortless. With our talented team, and Apax’s unique insights and operational expertise, we have an exciting future ahead.”

“GAN helps its customers drive significant positive impact, and we are thrilled to have the opportunity to partner with Nick and the team. Ethics and compliance behaviours start at the top of all organisations, but businesses need an effective and scalable solution to implement policies and procedures, and GAN provides just that”, said David Su, Managing Partner, Apax Global Impact.

Juan Pablo (JP) Moncayo, Principal, Apax Global Impact, said: “We couldn't be happier to be partnering with GAN and helping to fuel the next stage of its growth. Our research confirms that the Company’s platform directly helps drive positive corporate behaviour, acting as an enabler of good governance for the benefit of employees, stakeholders, and society at large. We believe that GAN has the potential to be a leader in this important space and we look forward to working closely with the team to reach our collective ambitions.”

“As long-term shareholders of GAN, we are excited to deepen our commitment to the business and partner with Apax for the next stage of growth,” said Max Chee, Partner and Head of Aquiline Technology Growth.

Financial terms were not disclosed.


GAN Integrity helps global organisations elevate business ethics everywhere. We work with the world’s smartest companies to help them manage risk, impact behaviour and deliver long term strategic value.

GAN Integrity enables enterprises to embed ethics in and around their business, by engaging everyone, from front line workers to third parties and stakeholders on their journey towards ethical business transformation. The Integrity Platform has built-in flexibility to quickly adapt to changing regulatory requirements combined with the ever-demanding ethical expectations of their employees.

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Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Internet/Consumer, Tech, Services, and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies.

Apax Global Impact seeks out opportunities to support companies which deliver tangible societal and/or environmental impact. The strategy revolves around themes including Health & Wellness, Environment & Resources, Social & Economic Mobility, and Digital Impact Enablers. Apax Global Impact leverages the deep expertise of the Apax sector teams, the strength and global scale of the Apax platform globally, and the value creation potential of Apax’s Operational Excellence Practice.

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Apax is authorised and regulated by the Financial Conduct Authority in the UK.


Aquiline Technology Growth (ATG) seeks to invest in early- and growth-stage technology companies that are bringing innovation to the insurance and financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across the financial services and technology sector. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors.

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