[London, 7th February 2024] – London-based RegTech company, docStribute, today announces the successful completion of a pre-Series A funding round, securing £820,000 in investment from financial service angels. 

This substantial funding milestone positions docStribute to further advance its mission of redefining financial services customer communications. docStribute will be using the funding to add to its development and marketing capability to enhance customer integration and accelerate the scale up of the business.  

docStribute harnesses the power of Distributed Ledger Technology (DLT) to ensure the unalterable integrity of information to meet the stringent requirements set by the FCA guidelines for a durable medium.

This compliance with durable medium guidelines allows docStribute to take an innovative channel-agnostic approach to communicate with customers through their preferred channels to significantly enhance their overall communication experience. 

Results from docStribute’s implementation with customers, both large and small, are highly promising, showing elevated levels of engagement and click-through rates. By improving engagement and understanding, docStribute’s clients are driving their organisations to deliver better outcomes for their customers, and by monitoring that engagement in detail they are ensuring an ongoing cycle of improvement. This is at the heart of the Consumer Duty regulation.

By incorporating DLT technology, the company ensures that the communication process not only meets regulatory requirements, but also builds trust between financial institutions and their clients securely, whilst delivering significant cost savings.

Christopher Ansara, Founder of docStribute, said:

“Securing £820k in pre-Series A funding allows docStribute to continue to redefine financial services communication. Our commitment goes beyond compliance, as it is changing our clients’ relationships with their customers by ensuring crucial financial information is communicated effectively and efficiently.

This significant funding milestone follows a notable stride towards industry recognition, as docStribute successfully onboarded a tier 1 bank at the end of 2023. This brings our number of clients to over 30 and means we will be sending out more than 5 million documents a year. Adding such a prominent financial institution underscores the effectiveness of docStribute’s solutions in meeting the evolving needs of the finance sector.”

docStribute has now raised over £1.7m to date,  on top of the innovation smart grant awarded in 2020. 

About docStribute

docStribute transforms how financial institutions send mandatory or regulated customer communications by leveraging Distributed Ledger Technology (DLT). Their proprietary technology utilizes “immutable-hyperlinks” to ensure document integrity in line with the Financial Conduct Authority’s (FCA) Durable Medium rule. These secure links can be shared through various channels, such as email, instant messaging, or SMS, aligning with strict communication guidelines. This not only safeguards information but also enhances engagement, complying with the FCA’s Consumer Duty regulation introduced in 2023.

The primary goal of docStribute is to enhance the delivery and readership of regulated customer communications while meeting FCA’s durable medium requirements. Recognized for their innovation, they were awarded the Innovate UK Smart Grant in 2020, showcasing their leadership in this space.

For more information about docStribute and its transformative RegTech solutions, or if you want to talk more about how we can help solve your Consumer Duty challenges please visit [docStribute.com].