The funding was led by the US growth equity fund, Level Equity, with participation from PassFort’s existing investors OpenOcean, Episode 1, and Entrepreneur First. USD 4.89 million worth of venture debt was also provided by Shard Credit Partners, with PassFort being the first investment from its newly launched UK tech-focused venture debt strategy.
The funding round follows customer acquisitions for PassFort, including Curve and WorldRemit. The company is now set for a scaleup in the implementation of its RegTech solution worldwide.
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