Docuten, a company born in La Coruña, which promotes the digitalization of administrative processes through the services of digital signature, electronic invoicing and collection automation, has closed an investment round of 1.5 million euros.
GoHub Ventures, Global Omnium corporate Venturing has signed a ticket in the form of equity for 500,000 euros. The Neocapital and Ultramar Funds, both managed by Torsa Capital, have subscribed to a Profit Participation Loan totalling 500,000 euros.
This one million is completed with 500,000 euros from various financial institutions in the form of outside resources.
Thanks to this capital injection, Docuten, based in A Coruña, Madrid and London, will be able to continue to improve its product and deepen its strategy of international expansion, especially in the European market. To do this, it will be necessary to increase human capital, expanding its workforce throughout the new year by at least 60%.
“This investment is a great opportunity for us that will allow us to offer a better product to our customers, expand our workforce and position ourselves in foreign markets,” says Brais Méndez, CEO and Co-Founder of Docuten
DOCUTEN, A DECADE OF BUSINESS GROWTH
This Galician company, founded 10 years ago by Brais Méndez and Ángel Aparicio, computer engineers by profession , has become a reference in the digitalization of administrative processes in Spain.
In the beginning, the company was named Enxendra Technologies and at that moment, having two platforms, one dedicated to electronic invoicing and another to the digital signature of documents. In 2018, in order to differentiate themselves from their competitors and to give more value to their clients, the decision was taken to unify both platforms in a single tool, Docuten. The decision was also taken to adopt the product´s own trade name, Docuten.
In addition, in that same year 2018 it completed its value proposition with the purchase of Besepa, a startup focused on the automation of online payments.
After consolidating itself on the Spanish market, Docuten has already taken the first steps of its international expansion. On the one hand, it has secured the support of the United Kingdom Government through the Global Entrepreneur Program and created a subsidiary in London that will become a key part of its international strategy. And on the other, it actively participates in the EURINV program, whose main objective is to help participants comply with European regulations on Electronic invoicing.
The growth of this startup is a new impulse within the emerging entrepreneurial ecosystem of Galicia.