Cygnetise, a London, UK-based provider of an enterprise grade platform to manage, share and validate signatory data, raised £2.5M in funding.
The round was led by Adjuvo with participation from Massive and exiting investors.
The company intends to use the funds to expand operations and its business reach across sectors and abroad.
Led by CEO Steve Pomfret, Cygnetise provides a collaborative digital signatory management platform that helps organisations reduce the risk of contract disputes and signatory fraud, and enhance governance and facilitate business continuity. It enables organisations to manage their signatory lists and bank mandates, whilst decreasing the risk of signatory fraud. Using Distributed Ledger Technology (DLT), the data is validated on a permissioned blockchain where the user has full control of their own data. In addition, all amendments are recorded providing an immutable audit trail which shows what was changed and by whom, increasing the security of data. Cygnetise can be used to manage: authorised signatory lists, bank mandates, sensitive document sharing, director lists, authorised trader lists (MiFid II), and shareholder lists.
FinSMEs
25/09/2023