London-based, FinTech startup, Sikoia, has raised $6M in a seed funding round. It centralizes customer financial and identification data to streamline onboarding, verification, monitoring, and risk assessment.

In the most recent round, $8.3 million has been raised in total.

Leading the investment was the US-based venture capital firm MassMutual Ventures, with Coalition Capital and previous backers Earlybird in Germany and Seedcamp in Europe joining as participants.

The vast majority of financial institutions and enterprises subject to regulation gather, validate, and verify consumer data by hand from several isolated sources. It can be time-consuming, expensive, and error-prone, which frequently causes delays in onboarding new consumers and raises the possibility of fraud.

So, this UK firm established by a former SoftBank Vision Fund investor seeks to alter it by creating an integrated data layer.

According to Alexis Rog, CEO of Sikoia, “many Sikoia customers also onboard and verify international business clients.” This is in addition to evaluating individuals applying for financial goods. They must evaluate data from numerous public and private data sources that pertain to both the business entity itself and its connected directors, shareholders, and entities. Poor customer service and extra operating costs are frequently the results of this.

Sikoia is a Unified Data Platform (UDP) that was established by Alexis Rog, Stephen Simmons, and Alastair Bulger. It centralizes customer financial and identification data to make onboarding and verification, monitoring, and risk assessment easier.

The Sikoia site, a customer dashboard and decision-making tool for risk and compliance teams, or a comprehensive suite of APIs for developers are three ways to access the data.

Access to a wide range of global data partners and compliance services, such as credit bureaus, public registries, identity verification, fraud screening, AML screening, and more, is a feature of Sikoia’s UDP.

“For us, the past year has been exhilarating and changing. We increased the team size, enhanced the capabilities of our platform, and provided support for our steadily expanding customer base and network of business partners. We’re eager to keep meeting our challenging goals until 2023 and beyond,” adds Sikoia CEO Alexis Rog.

Alexis Rog further added, “This funding helps speed up Sikoia’s international growth, provide more data coverage and workflow automation, and create innovative technology to support our clients in providing excellent client experiences.”

Image Credit: Sikoia


Data professional, Writer and Thinker at TECHnicalBeep, aspiring to provide quality content with respect to "All things Startups" to our readers. It is important for the people that they are aware of how the world is changing and evolving daily, and how those ideas and innovations can potentially help grow the Ideasphere of the region.

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