In our digital world, more and more transactions are conducted online, which makes our lives easier but also exposes us to unprecedented security and privacy-related threats. We spoke to Juan Zamora, CEO and co-founder at Signaturit, to see how him and his team are helping counter these threats.
Let’s start by describing in your words what your company is and what it does?
Signaturit is a trust service provider, that caters for the needs of companies and individuals who want to conduct their digital transactions in a secure and compliant way.
We streamline and secure online transactions by providing legally binding e-signatures, registered delivery and electronic identification services through an easy-to-use platform.
What do you think makes it distinct to any other companies – what’s its USP?
We believe our USP is better than that of our competitors for three main reasons. Firstly, we are the only company to provide an eSignature solution, which allows documents for signing to be sent directly from an email account. Secondly, signers do not need to download any app to sign – they can do so by just opening the email, opening the document and signing it with their fingertip or mouse, on any device. And finally, we are the only solution provider in the market that offers advanced electronic signatures (as defined by the Regulation EU 910/2014, known as eIDAS) and the collection of biometric data from the signer, which allows us to uniquely identify him/her.
What is your personal background?
My background is in Computer Science and I started my career in the IT departments of several leading Spanish banks.
What inspired you to start the company?
From working in finance, I realised that many companies still rely on their clients to print a document, sign it, scan it and send it back: an utterly inefficient process that offers little to no legal protection for all parties involved. Parallel to that, the pre-existing e-signature solutions were not particularly intuitive, and some of them were far from legally binding.
What is the story of the company from launch until now? How big is the company now?
We started the project in a startup incubator in Barcelona and in 2014 we were selected amongst 700 candidates to enter Startupbootcamp’s successful accelerator programme in Amsterdam. Since then we have closed two successful finance rounds. The most recent valued at €2.8 million, coming from investors such as Bonsai Ventures, Banco Sabadell, Nero Ventures and Faraday Venture Partners. We were also one of the only two Spanish companies to receive funds from the European Horizon2020 program for high potential tech companies. Today, we have a team of highly committed professionals spread between our Barcelona and Amsterdam offices, and a portfolio of over 10,000 clients in more than 40 countries.
What is the biggest challenge you’ve faced so far in your company?
One of our biggest challenges in our early stages was developing a compelling user experience while delivering a legally binding service – especially because regulation and compliance often get in the way of an easy-to-use interface.
What’s your biggest milestone/ which are you most proud of?
Our main accomplishment so far has been establishing an international, highly motivated and hardworking team of professionals with a wide range of backgrounds. It gives me great pride to be part of this team, and I think one of our strengths lies in our shared sense of purpose.
What is your business model? How have you monetised your product?
We have a very simple business model. For small companies we provide a monthly subscription scheme, starting at €15 per month and for medium and large enterprises we have an API integration with a pay-per-use pricing model.
What’s the next step for growth – is the intention to grow the business independently, or look for an exit via acquisition or similar?
We are strongly committed to a fully organic growth strategy in which our key market will continue to be Europe. In the short run, our most recent financing round will allow us to increase our sales and marketing headcount, and we are constantly reinvesting in our platform to be ahead of the game.
Will you be looking for more funding?
We are most definitely interested in partnering with new investors, although it is too early to discuss the specifics of a third financing round.