Thirdfort, a UK-based Legaltech startup, announced on Monday it secured £1.5 million through its latest investment round. The funds come just a little over six months after Thirdford raised £1 million. As previously reported, Thirdfort stated it is enabling solicitors and licensed conveyancers to carry out secure and entirely remote ID and source of funds checks.
“Using just their smartphone, clients can prove their identity, validate the authenticity of their ID and provide digital bank statements, from the comfort of their home. Checks are completed in minutes and results are available in real-time.”
Thirdfort further revealed that the latest funding round marks the third investment from Alex Chesterman OBE (founder of Cazoo, Zoopla, and LoveFilm) as well as further backing from law firm Mishcon de Reya, Chris Marks (former CEO of Natwest Markets) and David Rutter (founder of R3). The investment brings the company’s total funds raised to £4.2 million. Speaking about the company’s development, Olly Thornton-Berry, Co-Founder and Managing Director of Thirdfort, stated:
“We’re using cutting edge technology to help lawyers and property professionals minimise fraud risk, whilst improving the client experience during life’s big moments. These tools have the backing of regulators, Government bodies and a growing number of firms, and our objective is for Thirdfort to become the new standard in legal security, as well as expanding into adjacent markets such as the estate agent and mortgage space. That means building better products and doing so faster than ever, and we’re delighted that some of the UK’s leading angel investors support this strategy.”
Funds from the investment round will be used to support product development and innovation.