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Building on its recent launch and in line with its growth plans for North America and Europe, KYP today announced the closure of its pre-seed funding round with total funds of approximately £800,000 raised. Despite often quoted challenging market conditions, KYP pre-seed round was 35% oversubscribed with the support of US based 1414 Ventures, BH Ventures and some leading UK Angel Investors.
KYP also announced the appointment of three new directors to its board and advisory board. Luis Davila is an accomplished Investor, FinTech founder and leader at the intersection of software, technology, and Financial Services; joins KYP’s board. Luis has a proven track record of scaling, raising capital and leading innovative and diverse teams around the world.
In terms of KYP’s advisory board, KYP welcomes David Birch and Howard Hall. Howard, of 1414 Ventures and Consult Hyperion, has extensive expertise in strategy, product marketing and business/corporate development spanning over 20 years’ in the areas of IT and electronic security, business intelligence, digital identity and payments. David Birch is an internationally-recognised thought leader in digital identity and digital money and brings a wealth of relevant experience.
Alan Nagle, Founder and CEO of KYP said “We at KYP are passionate about creating robust 3rd Party Enterprise risk solutions that empower secure and profitable partner relationships for our clients. We are thrilled to close our pre-seed round at just below £800,000 and appreciate the backing of 1414 Ventures, BH Ventures and the rest of our investors”. Nagle continued “We’re excited also to welcome Luis Davila to our board. Luis will help KYP to scale in North America and LATAM . We also welcome Howard Hall and David Birch to KYP’s Advisory Board. I know that all of us at KYP will benefit from the newly joined board members’ leadership and expertise.”
David Parker, Chairman of KYP added: “We are thrilled that our pre-seed round was oversubscribed despite the market conditions. This clearly demonstrates the quality of the concept we are looking to create around risk alerts and continuous real time monitoring of 3rd Party Enterprises. It was noticeable that almost all the angel investors are highly experienced Financial Service people and could clearly see the opportunity we are building this unique solution for. ”