PassFort closes Series A round with USD 16.2 million

Thursday 16 September 2021 11:00 CET | News

PassFort, a UK-based Saas provider has announced the close of its Series A funding with USD 16.2 million to fund growth plans and compliance automation for regulated businesses.

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 investment teams behind Level Equity and Shard Credit Partners have confidence investing in the RegTech category PassFort and are further boosting the company’s global ambitions.

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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Keywords: funding, regtech, expansion
Categories: Payments & Commerce
Countries: United Kingdom
This article is part of category

Payments & Commerce