Connective NV closes a EUR4.5 million funding round
16 September 2016 | 2383 views | 0
Connective N.V. raises 4,5 million euros, primarily through their founding partners Michel Akkermans and Erik Dralans.
With this substantial capital increase the Antwerp developer of Digital Transaction Management (DTM) systems will fund its international expansion. Connective digitises document based processes to a level of greater efficiency and user friendliness, in compliance with the sector’s regulation.
The investment enables Connective to realise the growth potential in Digital Transaction Management on an international scale. Connective’s CEO Eric Bohner: “Digital Transaction Management is a topic of high interest in today’s financial services sector and other service based organisations where contracts and agreements form an essential step in the supply chain and where digital is becoming the norm.”
The 4.5 million euro investment is instrumental to Chairman Michel Akkermans to realise this market growth potential. “Digital Transaction Management is one of the last transformation steps that many companies have yet to make. They have exchanged their paper client files for cloud-based customer relationship management, their filing cabinet for a digital archive and their paper notebooks for mobile apps. But paper is still around for client onboarding, contract signing, compliance forms, proof of evidence and many other legally binding transactions. The changeover to the creation of a truly digital workflow is therefore essential for all companies.
Nearly all of the investment was bourn by Connective’s founding shareholders, Michel Akkermans (Pamica NV) and Erik Dralans (ED Investments). Dralans, former CEO of ING Belgium and board member of Connective: "DTM is more than the digital signing of documents. Connective offers a set of tools and methodologies that enables companies to execute document driven transactions paperless, digital and secure. For banks and insurance companies this means improved customer experience, lower cost of compliance and higher operational efficiency.”
Bohner: "Connective delivers a platform to the market that can be easily implemented in a range of sectors. It obviously enables banks, insurance companies and governmental bodies to rapidly achieve considerable efficiency gains. Additionally, it makes them future-ready, which we have proven with our work at the BNPP Group and the Police force.”
In the coming months Connective will strengthen its activities in its focus segments abroad and will also diverge into governmental services and sectors. Internationally the first goal is France, Netherlands and Scandinavia. Notaries, law firms, accountants and interim staff agencies are on the radar, in addition to the energy and telco sector, where considerable efficiency gains are to be made. “For these segments we are creating a partner eco system and we will continue to attract additional top talent”, Bohner concludes.