Software security startup GuardRails has received $750,000 in a seed funding round led by Singapore-based venture capital firm Cocoon Capital.
GuardRails helps business detect, fix and prevent cyber vulnerabilities in real-time. Its services are used globally by nearly 800 clients. The Sinaporean RegTech platform has support for 10 programming languages to help secure critical business infrastructure including web and mobile applications.
GuardRails founder and CEO Stefan Streichsbier said, “Currently, companies need a small army to deploy and integrate security solutions tightly into the development workflows, after which they find heaps of cryptic vulnerabilities without any useful information on how to fix them. This is something not many companies, especially small businesses, can afford to do.”
Last year, Cocoon Capital led the $940,000 seed round of Singapore-based loan broker Lendela. The startup directly integrates with banks and uses machine learning to ease the comparison platform for loans.
A total of $5.3bn has been invested into Singapore’s FinTech scene since 2014. The sector is maturing in the country as well, with one in six deals to have been completed this year have been $50m or more.
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