London-based RegTech company, docStribute, today announces the successful completion of a pre-Series A funding round, securing £820,000 in investment from financial service angels.
This substantial funding milestone positions docStribute to further advance its mission of redefining financial services customer communications. docStribute will be using the funding to add to its development and marketing capability to enhance customer integration and accelerate the scale up of the business.
docStribute harnesses the power of Distributed Ledger Technology (DLT) to ensure the unalterable integrity of information to meet the stringent requirements set by the FCA guidelines for a durable medium.
This compliance with durable medium guidelines allows docStribute to take an innovative channel-agnostic approach to communicate with customers through their preferred channels to significantly enhance their overall communication experience.
Results from docStribute’s implementation with customers, both large and small, are highly promising, showing elevated levels of engagement and click-through rates. By improving engagement and understanding, docStribute’s clients are driving their organisations to deliver better outcomes for their customers, and by monitoring that engagement in detail they are ensuring an ongoing cycle of improvement. This is at the heart of the Consumer Duty regulation.
By incorporating DLT technology, the company ensures that the communication process not only meets regulatory requirements, but also builds trust between financial institutions and their clients securely, whilst delivering significant cost savings.
Christopher Ansara, Founder of docStribute, said, “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.
“This significant funding milestone follows a notable stride towards industry recognition, as docStribute successfully onboarded a tier 1 bank at the end of 2023. This brings our number of clients to over 30 and means we will be sending out more than 5 million documents a year. Adding such a prominent financial institution underscores the effectiveness of docStribute’s solutions in meeting the evolving needs of the finance sector.”
docStribute has now raised over £1.7m to date, on top of the innovation smart grant awarded in 2020.
To learn more, visit https://www.docstribute.com/