FinTech Alliance company KYP has announced its pre-seed raise and bolstered its board just a week after officially launching.
In Brief:
KYP (“Know Your Partner”) offers an up to date picture of partners and businesses to measure risk.
It has raised £800,000 in a 35% oversubscribed round, from 1414 Ventures, BH Ventures and UK Angel investors.
Meanwhile, Luis Davila of 1414 Ventures has joined the Board while FinTech veterans David Birch and Howard Hall join the advisory board.
What does this mean?
KYP says the oversubscribed round reflects the quality of its concept as well as the need to know your partner as business models grow and change. It also says that the inclusion of highly experienced Angel investors from the financial services sector shows that the investors see the opportunity in the solution.
