back Back

FinTech Nivo secures £1m funding from Maven and Barclays

By Gloria Methri

December 26, 2022

  • Barclays
  • Digital Identification
  • FinTech
Share

ManNivo, Verified Identity Messaging, Secure Instant messaging, digital ID checks, Manchesterchester-based FinTech Nivo Solutions has secured a £1 million investment from NPIF Maven Equity Finance alongside a follow-on investment from Barclays Bank. The business was founded by Michael Common, CEO, and Matthew Elliott, CCO, both former executives of Barclays.

The technology platform combines secure instant messaging with digital identification and verification. This allows financial services organisations, their customers, and partners to gather data, documentation, evidence, and approvals in a more efficient and secure way.

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 counts many of the UK’s banks, building societies, alternative lenders, and brokers among its clients. Nivo claims that its service secures 1,000 new downloads each day and has grown to more than 50,000 people using its platform every month.

The new investment will aid Nivo in building its product, marketing, customer success, and sales teams, including the addition of a sales director to accelerate the business’ growth.

“We are really pleased to be able to attract investors of the pedigree of Maven and Barclays into Nivo,” said Michael Common, CEO. “We look forward to working with them, and to continue 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.”

Gavin Chapman, managing director, principal investments at Barclays, added, “We are pleased to continue our support for Nivo, who have demonstrated strong traction since graduating from our 2017 accelerator program. Nivo has developed a niche, yet fundamental innovative solution looking to disrupt the financial services industry. We look forward to working alongside Maven and the management team to scale the business.”

 

Previous Article

December 26, 2022

Republic First Bancorp appoints new CEO and CFO

Read More
Next Article

December 26, 2022

Menthum launches a new digital saving solution in Egypt

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

Barclays

Why predictive AI is a critical necessity in the field of cybersecurity

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Loop & J.P. Morgan Payments to boost working capital with freight payments

Read More

June 20, 2024

4 Open Banking platforms shaping the future of financial data in the US

Read More

June 20, 2024

First Abu Dhabi Bank bolsters CLM operations with Fenergo

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023