Five V Capital has signed a binding agreement to acquire approximately 83% of First AML, the buyer announced. The transaction is the sixth investment for Five V's Fund V. The amount was not disclosed in the sources.
First AML was founded in 2018 and describes itself as a compliance technology platform supporting approximately 1,500 regulated firms across Australia, New Zealand and the UK, including law, accounting and real estate businesses. Five V said First AML has grown annual recurring revenue by around 80% compound annual growth rate since March 2024.
According to Five V, the investment follows a five-year relationship with the business and reflects its focus on partnering with founder-led companies with strong growth potential. The firm said First AML operates in a market underpinned by increasing regulatory complexity and ongoing reform, and that it is positioned to continue international expansion and strengthen its position in the compliance software sector.
Five V said it will support co-founders Milan C., Bion Behdin and Chris Caigou, alongside the broader First AML team, in the company's next phase of growth across Australia, New Zealand, the UK and beyond.