Cygnetise, a London, UK-based company that offers a cloud-based Software as a Service (SaaS) solution focused on authorized signatory management for operations and finance departments, raised £2.5 million in pre-Series A funding.
SaaS Investors
The round was led by UK investment syndicate Adjuvo and included participation from Massive and existing backers.
Adjuvo is an angel group firm that supports and commits capital to innovative early-stage British companies. Founded in 2014, it is based in London, United Kingdom.
Cygnetise Use of Funds
The company intends to use the funding to expand Cygnetise's sales and tech teams.
About Cygnetise
Cygnetise is a technology company that digitizes the process of authorized signatory management. Their platform leverages blockchain technology to make signatory management more efficient, transparent, and secure. The use of blockchain technology reduces the risk of fraud and lowers costs for businesses. Cygnetise's platform has garnered a customer base that includes notable organizations such as PwC, Societe Generale, Willis Towers Watson, Charles Schwab, ADNOC, and SEI.
Cygnetise can be used to manage: authorised signatory lists, bank mandates, sensitive document sharing, director lists, authorized trader lists (MiFid II), and shareholder lists.
Funding Details
Company: Cygnetise Limited
Raised: £2.5M
Round: Pre-Series A
Funding Month: September 2023
Lead Investors: Adjuvo
Additional Investors: Massive
Company Website: https://www.cygnetise.com/
Software Category: E-Notary Software
Source: https://tech.eu/2023/09/24/cygnetise-ps25m-for-blockchain-based-signatory-management-solution/