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SICCAR Receives Investment of £1.3m

MBM’s corporate team, led by Alexander Lamley, Director, with support from Yavor Georgiev recently advised SICCAR (previously known as Wallet Services) on its recent funding round.

SICCAR has developed a technology platform designed to reduce the friction in digital interactions and address issues of data protection, consent, and accountability, using distributed ledger technology.

Founded in 2016 and benefitting from the CivTech accelerator program, which has a focus on solving the challenges of public sector organisations through innovative SMEs, SICCAR has gone on to refine its products for both the public and private sectors.

The funding of £1.3 million, led by Par Equity, will be used for further product development and expansion of the customer services teams, as well as adding expertise to their marketing team.

“MBM Commercial has been with us since our founding. Alex and the MBM team were great at guiding us through negotiations and provided us with fantastic legal support through the fundraise”, noted Peter Ferry, SICCAR’s Founder.

“The SICCAR team is led by highly knowledgeable and experienced founders and has applied distributed ledger technology in a really smart way that can be applied across multiple sectors”, said Alexander Lamley. “Data security and governance is critical for any interaction these days, so we can’t wait to see what’s next for the team.”

 

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