Wecan Group announces a new round of funding. The Geneva-based start-up plans to further develop its client base in the compliance area for the financial sector and to extend its blockchain-based secure document sharing concept to other industries such as lawyers, clinics or governments.
Wecan Group, a specialist in blockchain solutions, has announced that it has raised CHF 1.6 million from its historical shareholders. The Geneva-based start-up has developed Wecan Comply, a blockchain-based platform for the secure exchange of documents between independent asset managers and their custodian banks for compliance purposes. Nine months after its launch, the solution is already used by 13 banks and 59 independent asset managers, according to the start-up.
The funds raised will be used to develop the company’s teams and attract new clients to Wecan Comply. The start-up also plans to extend its secure document sharing concept to other sectors, such as lawyers, clinics, hotels and governments. The first deployments are expected to take place as early as 2022. “One day, everyone will have a digital vault to secure their data, documents and valuables,” predicts Vincent Pignon, CEO and founder of Wecan Group.