Contego Fraud Solutions secures £900k to expand its risk management platform
The funding round was backed by Rainbow Seed Fund, Angel CoFund, and various angel groups.
Contego Fraud Solutions provides risk management software that performs due diligence and compliance checks on individuals and companies.
Contego Fraud Solutions has secured £900k in a new funding round featuring backing from the Rainbow Seed Fund, the Angel CoFund, London Business Angels, Surrey 100, Thames Valley Investment Network, and the Cass Entrepreneurship Fund alongside private angels. Experienced angel investors Matt Slatter and Howard Sarna also participated and will join the company board.
The Oxfordshire-based firm operates a due diligence and risk analysis platform used across sectors such as financial services, recruitment, and property. The proceeds from the round will be directed towards expanding the domestic sales and marketing team and driving revenue growth.
This capital injection follows an earlier seed investment round in 2012, bringing the company total funding to £1.4m.
From the founder
"We have developed a unique product that solves a clear need in the important and rapidly growing governance, risk and compliance software market. To have closed this latest round is a significant moment for us and means that we can further enhance Contego and scale the business into new market sectors. We believe that providing cost effective tools to address compliance, fraud and other business risks will be game-changing for many businesses, both in the UK and internationally."
Adrian Black
Founder and CEO at Contego Fraud Solutions
Use of funds
- 01Invest in sales and marketing
Investors
Rainbow Seed Fund
Angel CoFund
London Business Angels
Surrey 100
Thames Valley Investment Network
Cass Entrepreneurship Fund
Categories
About the company
Contego Fraud Solutions
Contego Fraud Solutions develops risk management software for due diligence and compliance analysis.