Zurich-headquartered digital signature firm Skribble has finalized a EUR 10M round of funding.
The firm’s investment round has been led by Munich’s Acton Capital Partners and Swiss VC company VI Partners.
Contracts including employment and supplier agreements, along with delivery notes or tenders, have long since been having to rely on printers, paper and post to be signed with legal validity.
The digital method with Skribble is reported to be a lot quicker, significantly more secure and more sustainable as well.
The proceeds from the round will be channeled towards Skribble’s business expansion efforts and expanding the office in Karlsruhe. In addition to solidifying its position in the DACH area, the firm aims to enter various other European markets.
The funds raised will also be directed towards enhancing product development and further expand its clear positioning as a convenient signature service with a seamless user experience.
This latest round is reportedly the third since the firm was established back in 2018.
Stakeholders from previous investment rounds, such as btov Partners AG, Mobiliar AG, Helvetia Venture Fund and Züricher Kantonalbank (ZKB), also made contributions to the latest raise.
Many employees also make contributions to the firm.
Dominik Alvermann, Partner at Acton Capital, said:
“Due to a lack of trust in legal certainty and ready-to-use e-signing solutions, more than 99% of contracts in Germany are currently printed out and signed by hand. Skribble has launched an e-signature service that is completely watertight in terms of legal validity and data protection, eclipsing paper and pens when it comes to simplicity,”
As noted by its management, e-signature service Skribble was founded in March 2018.
It claims to be the leading Swiss provider of electronic signatures and has offices in Zurich, Switzerland and Karlsruhe, Germany.
Skribble offers “all e-signature standards from a single source and supplies the legally appropriate electronic signature for every type of contract.”
These are “based on legally regulated standards, including the qualified electronic signature (QES) – the only form of the e-signature on an equal footing with the handwritten signature under EU and Swiss law.” Corporate clients “include DATEV, easyJet, SBB and international auditing firms.”
To date, more than 3,000 companies from more than 30 countries “have digitalized their signing processes with Skribble.” The e-signing service is “actively used in 140 countries.”