Secure instant messaging app for banks has raised €2m in funding

Nivo, an instant messaging network for banks which is built around digital verification, has closed a funding round on €2m.

The solution was originally built in Barclays by industry players and later became the bank’s first tech spin out in Q4 in 2017. Within the first 12 months since its launch, the company has enabled over £20m of loans, engaged with more than 30,000 customers and have fostered 500,000 messages.

This €2m investment was supplied by GP Bullhound, the Angel CoFund and a selection of angel investors, according to a report from Business Cloud. Some of these angels include EG Solutions founder Elizabeth Gooch, Playdemic founders Paul Gouge and Alex Rigby and Willis Group chairman Rodney Baker-Bates.

As part of the investment, Elizabeth Gooch will join the Nivo board of directors, the article states.

Nivo is an instant messaging network which claims to be ‘safe enough for banks to trust.’ On top of messaging, the company released various features including identity verification, open banking capabilities, and electronic signing.

Its goal was to establish a complete customer service which improves customer communications and experiences.

The platform is used by banks, credit unions, lending brokers, and others, with clients including the NHS, South Manchester Credit Union, Ultimate Finance, Shawbrook Bank and Sainsbury’s Bank.

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