Nivo secures £2m Series A funding from GP Bullhound and Angel CoFund to drive product growth.
The Manchester-based messaging platform raised the capital from backers including GP Bullhound and the Angel CoFund to accelerate expansion.
Nivo provides secure instant messaging and identity verification software for regulated financial institutions. The platform enables banks and lenders to complete onboarding and customer transactions securely.
Manchester-based identity verification provider Nivo has secured £2m in a Series A funding round backed by GP Bullhound, Angel CoFund and a group of angel investors. The capital will be deployed to accelerate growth and drive product innovation within the financial technology sector. Launched as a spin out from Barclays, the company provides instant messaging infrastructure designed for regulated transactions.
The latest backing adds to an active period of deployment for the firm, which has facilitated over £20m in loans and engaged tens of thousands of consumers since inception. Investors participating in the syndicate include technology entrepreneurs Elizabeth Gooch, Scott Fletcher, Paul Gouge, Alex Rigby and Rodney Baker-Bates.
From the founder
"Our mission is to make it easier for consumers to connect with service providers in regulated industries like Financial Services. Our clients are using Nivo to deliver simpler mobile experiences, which reduce effort and empower customers. This means everyone saves time, costs go down and satisfaction goes up."
Mike Common
CEO at Nivo
Investor perspective
"Manchester is a growing hub for disruptive and world-leading FinTech firms, and we’re delighted to be putting our support behind one of its leading lights. The strength of advocacy and results from its existing client base impressed us right from the beginning, with the Nivo team developing an unparalleled product offering that is disrupting the financial services industry."
Hugh Campbell
Managing Partner, GP Bullhound
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
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About the company
Nivo
Secure instant messaging and identity verification platform for financial services.