back Back

Lloyds invests €3m in Enigio to accelerate document digitisation

By Gloria Methri

September 29, 2023

  • Digital Documentation
  • Digital Trade
  • Enigio

Lloyds Banking Group, Lloyds, FinTech Investment, Enigio, Digital Documentation, EuropeLloyds Banking Group has invested €3 million in technology company Enigio to expand its use of digital documentation in trade.

The investment will allow Enigio to expand its bespoke solution, trace:original, which removes the need to physically transfer paper documentation within trade transactions.

Lloyds Banking Group led Enigio’s latest funding round, with existing investors Stockhorn Capital and MOOR Holding also participating in the raise totaling €6 million.

The investment will enable Enigio to grow and provide businesses with a faster, more affordable, and secure way to digitize physical original documents, for example, promissory notes, bills of exchange, and bills of lading. This is the latest strategic investment made by Lloyds Group’s FinTech Investment team.

Since 2019, Enigio has been working to revolutionise the digitalisation of trade and other documents with its trace:original solution. Through this investment, Enigio will aim to grow the usage of its legally compliant, digital equivalent of an original paper document across the trade ecosystem.

Kirsty Rutter, Director of Fintech Investment at Lloyds Banking Group said, “I am excited to announce our investment in Enigio – the latest of many that continue our strategic growth and ambition in the FinTech sector. Our belief in Enigio’s innovative technology and potential drives our commitment to help them become the standard solution in digital, authoritative, and original documentation for industries worldwide.”

Gwynne Master, Managing Director, Lending and Working Capital, Lloyds Bank said, “Lloyds Bank has worked closely with Enigio for a number of years. This investment in Enigio is the latest significant milestone in our partnership. As we head into an exciting time for the trade industry, with the UK Electronic Trade Documents Act around the corner, we look forward to being at the forefront of future innovation with Enigio and helping businesses unlock the benefits of digital trade.”

Patrik Zekkar, CEO of Enigio, said, “I am very pleased to strengthen the partnership with a key industry player like Lloyds Banking Group. This will further strengthen Enigio’s capabilities and capacity to deliver a market-leading solution for electronic trade documents more broadly, in a time of transition of trade driven by cross-market demand and supported by regulatory changes. We look forward to delivering on the massive opportunity in efficiency, sustainability, accessibility, and much more for, and in collaboration with, the industry by digitising trade.”

Previous Article

September 29, 2023

7 FinTech tweets you should see!

Read More
Next Article

September 29, 2023

Flutterwave & Capgemini to launch engineering mobility program in India

Read More

IBSi Daily News Analysis

December 08, 2023

Digital Documentation

Most consumers seek safer, easier payment verification, research reveals

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

December 07, 2023

10 biggest FinTech Mergers & Acquisitions of 2023

Read More

December 05, 2023

Swiss crypto bank SEBA rebrands to AMINA Bank

Read More

December 04, 2023

Trulioo partners with Public for its UK launch

Read More

Related Reports

Sales League Table Report 2023

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q2 2023

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2023

£1,500.00 / year

Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023

£500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2023

£1,500.00 / year

Know More

IBSi Sales League Table

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