Nivo, a Manchester, UK-based FinTech solution provider, secured a £1 million investment from NPIF Maven Equity Finance, alongside a follow-on investment from Barclays Bank.
The funding will be used to aid Nivo in building its product, marketing, customer success, and sales teams, including the addition of a sales director to accelerate the business’ growth.
Michael Common, CEO at Nivo Solutions says “We are really pleased to be able to attract investors of the pedigree of Maven and Barclays into Nivo. We look forward to working with them and to continuing to build a leading Manchester technology company that continues to eliminate the paper, email, and phone-based processes that we’ve all had to endure when dealing with the financial sector and other service industries.”
Nivo already counts many of the UK’s banks, building societies, alternative lenders, and brokers among its clients. The service secures 1,000 new downloads each day, and it has grown to boast over 50,000 people using its platform every month.
Company: Nivo Solutions Limited
Raised: £1.0M
Round: Unknown
Funding Month: December 2022
Lead Investors: NPIF Maven Equity Finance
Additional Investors: banking group Barclays
Company Website: https://www.nivohub.com/
Software Category: Verified Identity Messaging Solution
About the Company: Founded by Michael Common, CEO, and Matthew Elliott, CCO, Nivo provides a verified identity messaging solution, which combines secure instant messaging with digital identification and verification. This allows financial services organizations, their customers, and partners to gather data, documentation, evidence, and approvals more efficiently and securely. Nivo reduces the reliance on inconvenient and undigitised channels such as paper, post, phone calls, and in-person communication, as well as email. The Nivo platform includes task management, e-signing, machine-learning-based identity document scanning, facial recognition, document collection, open banking, and no-code automation capabilities. It blends the latest technologies, including leading identity and security technologies, with the world’s communication channel of choice, instant messaging, to ensure the quickest, most effective way for people to do business.
Source: https://www.mavencp.com/latest-news/npif-maven-equity-finance-invests-1-million-in-nivo-npif-maven/