ALT/AVE adds three members to their advisory board and receives cash injection

By Joy Dumasia

London-based RegTech startup ALT/AVE had announced three major appointments to its Advisory Board and a funding boost of more than half a million pounds.

Joining ALT/AVE CEO and founder Chris Ansara and Chair Phil Shelley on the newly created advisory board to help guide the company through the next stage of its rapid development are former EY Wealth Management head Keith MacDonald; serial entrepreneur and government digital adviser Sarah Ronald; and hugely experienced venture capitalist and private equity investor, Dag Lee.

In addition to the huge amount of entrepreneurial and investment experience the trio bring to the table, not to mention their vast networks of business contacts, each has also become an investor in ALT/AVE, contributing personally to the company’s latest cash injection of £530,000. The new funding will support further development of ALT/AVE’s product suite and tech offering and support the commercialisation of the technology. Existing investors also participated in the round.

ALT/AVE Chair Phil Shelley said: “docStribute was launched in response to a major problem in the financial services industry; existing communication channels are heavy users of carbon, represent significant cyber risk, and are expensive whilst often offering the customer a poor experience. In launching a product that uses the Hedera Hashgraph network, ALT/AVE is providing a safe and secure channel that reduces emissions, and that offers customers a positive experience. I am delighted to complete our second fundraising of £530,000 with strong support from existing and new shareholders. I am also delighted to welcome new Advisory Board members who I am confident will enable the company to continue growing. Each of the three new appointments bring unique and very relevant experience as well as broad connectivity that will help ALT/AVE continue its rapid progress.”