London-based regtech startup docStribute, leveraging Distributed Ledger Technology (DLT), has successfully raised £820,000 in a pre-Series A funding round from a group of angel investors.
docStribute’s proprietary technology employs “immutable-hyperlinks” to uphold document integrity, aligning with the Financial Conduct Authority’s (FCA) durable medium rule. These secure links enable document sharing across various channels, including email, instant messaging, or SMS, while adhering to communication guidelines.
With the recent addition of a tier 1 bank to its clientele, docStribute now serves over 30 clients, facilitating the distribution of more than five million documents annually.
The infusion of £820,000 in this latest equity injection, bringing the total funding to over £1.7 million, will be allocated towards development, marketing, and accelerating the business’s scale-up.
Christopher Ansara, founder of docStribute, expresses enthusiasm about the funding round’s outcome, stating, “Securing £820k in pre-Series A funding allows docStribute to continue to redefine financial services communication. Our commitment goes beyond compliance, as it is changing our clients’ relationships with their customers by ensuring crucial financial information is communicated effectively and efficiently.”
docStribute’s innovative approach not only addresses compliance requirements but also enhances client-customer interactions, reflecting the company’s dedication to revolutionizing financial services communication.