Fides receives $4.3 million

The Munich-based start-up participated in the Accelerator Program of Sequoia. Now international investors are investing in the company.

Startup Fides raised $4.3 million in its seed funding round, as Gründerszene reported. According to the report, the round is led by European fund La Famiglia.

Early-stage VC Angel Invest and fund Auxxo Female Catalyst also invested in the startup. Business angels Cristina Stenbeck, major shareholder of Swedish investment firm Kinnevik and chairwoman of Zalando's supervisory board, and Christa Davies, chief financial officer of insurance broker Aon, also participated. In addition, DocSend founder Russ Heddleston and Marlon Braumann, partner at Peter Thiel's investment arm Elevat3 invested in Fides.

The company, founded in 2021, is backed by lawyers Lisa Gradow and Phillippa Peters and Call Jeffrey founder Vincent Bobinski.

The founding team has developed administrative software to help companies more easily fulfill their legal obligations. The software is designed to help keep track of legal processes. According to Fides, the offering is already being used by 20 European companies, including luxury watch retailer Chrono24, Berlin-based software company Pitch and venture capital fund Headline.

Fides first participated in Sequoia's "Arc" accelerator program. With Sequoia as an investment partner, the startup would hope to gain customers in the U.S. in the coming years.