Business

Dublin-headquartered Legitify raises €1.5 million in seed funding round

Cork-based Climeaction also secures €2.3 million

Irish based companies Legitify and Climateaction secure almost €4 million in seed funding round. Photograph: iStock

Ciara O'Brien
Fri Mar 8 2024 - 16:16

Online notarisation platform Legitify has raised €1.5 million in a seed funding round that will help develop its product offering, expand its reach and grow its team.

The funding round was led by Verb Ventures, with Enterprise Ireland, Actium Partners, Redbay Ventures and other investors also participating.

Dublin-headquartered Legitify is aiming to simplify cross border transactions by removing the complexity and barriers to notarisation processes with its online notarisation solution. It can be used by both organisations and individuals to certify and notarise documents online.

The company was founded during Covid-19 by chief executive Aida Lutaj and chief product officer Arko Ganguli.

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“We see that in Europe and UK, there’s more of a need for remote online notarisation,” said Ms Lutaj. “But I think as this progresses forward, there will be more move towards digitalising of notarisation and electronic notarisation happening with a qualified electronic signature.”

Legitify is headquartered in Dublin and has previously been backed by Antler, NDRC and Alchemist Accelerator. Ms Lutaj said the decision to locate in Dublin was down to the availability of tech talent.

The company’s product is used in more than 40 countries, with more than 1,100 customers served to date across financial services, legal services, consulting, real estate and other sectors.

“In a remarkably short time, Legitify has emerged as a front-runner in providing a seamless notarization solution to professionals across various industries,” said Alexander Chikunov, founding Partner at Verb Ventures. “Their innovative platform addresses a critical need in a market that sees billions of certifications and notarisations annually.”

Separately, Cork-based Climeaction has raised €2.3 million to fund its growth in the US, backed by Davy’s 2022 EIIS fund, a joint venture between Davy and BDO through BES Management. The investment will enable the company to focus its expansion in the US, and grow its team.

Established in May 2021, the company offers a holistic approach to business decarbonisation that spans the entire supply chain, identifies carbon hotspots and develops strategic plans to mitigate environmental impacts.

Climeaction chief Paul Murphy said the partnership with the Davy EIIS Fund was a pivotal step in bringing its climate action expertise to the mainstream.

“This substantial investment of €2.3 million will be instrumental in supercharging our growth strategy, enabling us to expand into the US market, hire key talent, and further innovate to create even more impact,” he said.

Its client list includes companies such as Analog Devices, Abbott, Energia, Aryzta, Arrabawn and Garret Motion.

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist

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