Skribble, the leading Swiss e-signature service, closes its third round of funding. The scale-up has secured 10 million Swiss francs as part of its Series A. The round is co-led by venture capital firms VI Partners from Switzerland and Acton from Germany. With the capital raised, Skribble aims to strengthen its position as a pioneer in existing markets and drive expansion in Europe.
Contracts no longer have to take the detour via printer and paper to be legally signed: This can be done faster, more securely and in a more environmentally friendly way digitally. Skribble was able to convince renowned investors of this once again: The e-signature service closes the Series A financing round with an investment volume of 10 million Swiss francs. Co-lead investors are one venture capital company each from Switzerland and Germany.
Investor company sees enormous potential for European market
The global e-signature market potential is estimated at 24 billion by 2030. Swiss co-lead investor VI Partners - a leading venture capitalist for promising technology companies - sees particularly great potential in Europe.
"Skribble has quickly established itself as the leading e-signature provider in Switzerland and has enormous potential to establish itself as the number one legal and data protection compliant provider across Europe."
Joe Neale, Partner, VI Partners
Focus on growth
The capital raised will be used to strengthen the product and expand its clear positioning as an easy-to-use signature service with the best user experience: "Skribble offers the right e-signature for every use case immediately – and with the highest level of data protection and the best user experience on the market. With VI Partners and Acton, we have found two internationally oriented VC companies that share our values and with whom we can further expand our growth in the DACH region and throughout Europe. We are very happy about this." says Philipp Dick, co-founder and CEO of Skribble.
Since its founding in March 2018, over 3000 companies have digitized their signature processes with Skribble and 140 countries are actively using the e-signing service. Now, the company is set to expand its pioneering role in the DACH region and expand into new European markets:
"In the Swiss home market, we have been able to establish ourselves as a leading e-signature provider in just three years. We are already present in over 30 other countries. Now our top priority is growth in existing markets and expansion into new ones," Philipp Dick continues.
Proof of confidence in times of unstable markets
The current round is Skribble's third round of financing. In addition to renowned VC companies, participants from previous rounds, including btvo Partners, Mobiliar, Helvetia Venture Fund and ZKB, as well as many employees are investing again with capital contributions.
Despite financially very uncertain and unstable times, Skribble is able to secure an investment volume of 10 million. Business Angel and Chairman of the Board of Bitcoin Suisse, Luzius Meisser, explains the continued confidence in the scale-up this way: "Skribble has built a solution that makes technical and legal complexity look simple, so that anyone and everyone can use it immediately. That has always been a recipe for success and has enormous growth potential."
Video identification for QES implemented according to Swiss law.
An important step towards strengthening the product is video identification for the qualified electronic signature (QES) in Switzerland. Since the end of August 2022, Skribble, together with Swisscom and Intrum, has been offering this on its own e-signing platform, thus supplementing the time-consuming personal identification on site. In the EU, video identification or electronic signing has been possible for years.