Distributed Ledger Technology-based regtech company docStribute has successfully raised £820,000 in a pre-Series A funding round from a group of angel investors.
London-based docStribute utilizes its proprietary technology, known as “immutable-hyperlinks,” to ensure document integrity in accordance with the Financial Conduct Authority’s durable medium rule. These secure links can be disseminated through various channels, including email, instant messaging, and SMS, while adhering to communication guidelines.
Recently, the firm secured a tier 1 bank as a new client, increasing its client base to over 30 and enabling it to send out more than five million documents annually.
This latest equity injection brings docStribute’s total funding to over £1.7 million, with plans to allocate the funds towards development, marketing, and accelerating the growth of the business.
Christopher Ansara, the founder of docStribute, stated, “Securing £820k in pre-Series A funding allows docStribute to continue to redefine financial services communication. Our commitment goes beyond compliance; we are transforming our clients’ relationships with their customers by ensuring that crucial financial information is communicated effectively and efficiently.”