MALMO, SWEDEN / ACCESSWIRE / January 10, 2024 / SwiftCourt AB, a leading digital solutions platform that offers digital sales contracts incorporating e-signing, secure peer-to-peer payment, and contract solutions is pleased to announce a fundraising of €2mn in the latest round led by XVC Tech, a leading Investment Company investing in Emerging Technologies based out of UAE.
The investment underscores the shared vision and strategic alignment between XVC Tech and Swiftcourt as they join forces to transform the landscape of digital transactions and P2P transactions. SwiftCourt will utilize the XDC Blockchain Network which would enable transactions to be safe, more efficient, transparent, and secure to users worldwide.
With the vision of making second-hand trade as safe as purchases made in stores, Swiftcourt has been gaining recognition in Europe with its long-standing contract platform, and its recent release of a PSD2-compliant P2P payment service for buying and selling used goods to speed up transfer times and cut costs for distributors and end users. Relying on bank-grade KYC and utilizing escrow accounts to safeguard transactions, Swiftcourt can ensure that neither party falls victim to fraud. With added blockchain capabilities, Swiftcourt will now utilize XDC's smart contract features to further automate contract fulfillment and release funds to make the solution even more secure.
SwiftCourt has established a presence across Norway, Sweden, Germany, and Finland and has captured the market share of the Nordic region catering to 1.4 Million customers.
XDC Network, an enterprise-grade Layer 1, EVM Compatible Blockchain Network, will serve as the backbone to seal and verify the contract using a Simple Electronic Seal. The contract would be co-signed between two parties on SwiftCourt's platform using a cryptographic hash and wrapping reference and later can be used to verify the signed contract on the XDC Network with the cryptographic hash.
Johan Lundberg, Founding Partner at XVC Tech, comments "We are thrilled to support Swiftcourt in its mission to revolutionize peer-to-peer transactions, and incorporating blockchain for documentation aligns perfectly with our investment vision of utilizing blockchain technology to ensure transparency and security. This infusion of capital will enable Swiftcourt to offer its solutions in new markets such as Asia while the access to XDC blockchain will bolster its tech stack and introduce cutting-edge smart contract technology."
"Recent market changes have pinpointed clear market gaps in terms of fintech capabilities aimed at circular economies, and those fit perfectly with Swiftcourt's vision. This new infusion of capital means that we can take on these challenges, but in turn brings some major changes and a highly ambitious roadmap that will require our full attention. This split of responsibilities allows for that and will hopefully enable us to share some more exciting news, very, very soon." says Sofia Malmberg, Co-CEO.