Data exchange platform Dawex has secured ?5m in its latest funding round which will support its development in Europe and the US.
Contributions to the round came from investors including Amadeus, Itochu Corporation, Bouygues Construction, and Caisse des D?p?ts. Since the company was founded in 2015, it has raised ?12m in equity funding, which includes its recent ?2.5m grant from Horizon 2020, a European Union research and innovation program.
Following the close of the deal, Dawex co-founders Fabrice Tocco and Laurent Lafaye will retain a majority stake in the company and keep full control of the company strategy and operations.
This equity shall support the startup development in Europe and the US, moving into the Asia and Middle East markets, and double-down on its technology and innovation.
Dawex is a data exchange marketplace which lets organisations to orchestrate data circulation by sourcing, monetising and exchanging data safely and compliantly.
The company supports a range of industries, including insurance, financial services, environment, agriculture, automobile, commerce, health and the public sector, among others. Insurance firms can leverage Dawex to improve their risk management by accessing new data sources, enabling them to give clients optimised protection.
Dawex co-founder and co-CEO Laurent Lafaye said, ?Data ecosystems are redefining competition, and the most data-driven companies will be the leaders of the new data economy. Becoming data-driven requires a shift in the enterprise mindset and culture, but also the right technology to accelerate, streamline and secure data exchanges internally and externally, in compliance with new data regulations. This is exactly what Dawex provides.p>
Copyright ? 2019 FinTech Global