Skribble closes a CHF 10 million series A round to drive expansion in Europe of its e-signature service

01.09.2022 09:26, Guillaume Tinsel

Skribble, the leading Swiss e-signature service, secures 10 million Swiss francs as part of Series A. The round is being co-led by the venture capital companies VI Partners from Switzerland and Acton Capital Partners from Germany. With the capital, Skribble intends to strengthen its position as a pioneer in the existing markets and drive expansion in Europe.

Skribble, based in Zurich (CH) and Karlsruhe (DE), offers all e-signature standards from a single source and provides the legally appropriate electronic signature for every type of contract. The basis is formed by legally regulated standards, including the qualified electronic signature (QES) - the only form of electronic signature that is equivalent to a handwritten signature under EU and Swiss law. Corporate customers include easyJet, SBB, Baloise Group, and leading international auditing firms and law firms. So far, more than 3000 companies from over 30 countries have digitized their signature processes with Skribble. The e-signing service is actively used in 140 countries.

Contracts no longer have to take the detour via printer, paper, and post to be legally signed: It's faster, safer, and more environmentally friendly the digital way. Skribble was once again able to convince well-known investors of this: The e-signature service completes the Series A financing round with an investment volume of 10 million francs. Co-lead investors are venture capital companies from Switzerland and Germany.

Investor company sees enormous potential for the European market

The global e-signature market potential is estimated at 24 million by 20301. The Swiss co-lead investor VI Partners – a leading venture capitalist for promising technology companies – sees particularly great potential in Europe.

Growth is the priority 

The capital raised is intended to strengthen the product and expand its clear positioning as an easy-to-use signature service with the best user experience:

"Skribble immediately offers the right e-signature for every use case - 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 that," 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 the e-signing service is actively used in 140 countries. Now is the time to expand the pioneering role in the DACH region and expand into new European markets:

"In just three years, we have been able to establish ourselves as the leading e-signature provider in the Swiss home market. We are already present in more than 30 other countries. Now growth in existing markets and expansion into new markets has top priority."
Philipp Dick, co-founder and CEO of Skribble

Philip Dick pitching at the TOP 100 Swiss Investor Summit 2021 which Joe Neale, Partner at VI Partners, co-leading the new financing round for Skribble, attended.
"The Top 100 Investor Summit was a good environment to get to meet Joe in person and of course to pitch him Skribble," says Philipp Dick, co-founder and CEO of Skribble.

Proof of trust in times of unstable markets

The current round is Skribble's third round of funding. In addition to well-known VC companies, those involved from previous rounds are also investing, including btov Partners, die Mobiliar, Helvetia Venture Fund, ZKB, and many employees. 

Despite financially very uncertain and unstable times, Skribble can secure an investment volume of 10 million. Business angel and Chairman of the Board of Directors of Bitcoin Suisse, Luzius Meisser, explains the ongoing confidence in the scale-up:
"Skribble built a solution that makes technical and legal complexity look simple so that anyone can use it immediately. This has always been a recipe for success and has enormous growth potential." Lucius Meisser, business angel

Implemented video identification for QES 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 has been established for electronic signing for years.

Skribble participated in Venture Leaders Technology in 2021 and was elected among the TOP 100 Swiss Startups from 2019 to 2021.
"The biggest benefit from participating in Venture Leaders came from having the possibility to talk with lots of different people with different backgrounds such as other startups, VCs with different market or industry expertise, and potential clients. Getting different perspectives on our product and our ways of doing things is always very valuable as it helps to reveal aspects we haven’t considered before," says Roni Oeschger, CTO & Co-Founder of Skribble.
     

Source : Press Release Skribble