Switch raise £30k
8th July 2014
Level39 member Switch Identity Governance have raised £30k of angel investment.
Alex Redston (pictured above), CEO of Switch, told us that the £30k has come from “an undisclosed angel investor in the investment banking sector.” Alex went on to explain that the total external investment into the company is now £49k, in exchange for just under 5%.
Something of interest to our VC and angel readership is that Switch are “interested in raising a further 100K at this stage.”
Switch Identity Governance helps banks bridge the gap between their important legacy, bespoke systems and new systems.
These legacy and bespoke systems perform important, core functions for financial institutions. The “switch engine” is a broker which enables modern and legacy systems to inter-operate.
Driven by regulatory pressures, current applications are focused on Identity Governance and Administration, and real-time integration.