Fides receives 4.3 million US dollars

The Munich-based start-up took part in the accelerator program of Sequoia accelerator program. International investors are now investing in the company.

The start-up Fides has raised 4.3 million US dollars in its seed financing round, according to start-up scene reports. The round was led by the European fund La Famiglia.

The early-stage VC Angel Invest and the Auxxo Female Catalyst fund also invested in the start-up. Business angels Cristina Stenbeck, main shareholder of Swedish investment company Kinnevik and Chairwoman of the Zalando Supervisory Board, and Christa Davies, Chief Financial Officer of insurance broker Aon, also participated. DocSend founder Russ Heddleston and Marlon Braumann, partner at Peter Thiel's investment arm Elevat3, also invested in Fides.

Behind the company, which was founded in 2021, are lawyers Lisa Gradow and Phillippa Peters as well as Call Jeffrey founder Vincent Bobinski.

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

Fides first took part in Sequoia's "Arc" accelerator program. With Sequoia as an investment partner, the start-up is hoping to win customers in the USA over the next few years.