Aerotruth, a software startup that accelerates and streamlines the B2B partnership process for fintechs and banks, has raised $1.3 million in an oversubscribed Seed round.
The raise was led by Archangel Ventures, with participation from Afterwork Ventures, Black Sheep Capital, Change Com, Cut Through Angels, Spring Capital and Unlock Capital.
The Software-as-a-Service company launched globally in May this year and currently has more than 40 financial institutions in 25 countries on one plug-and-play platform. Next Aerotruth simplifies the exchange of documents and eases the introduction of an initial partnership communication process for the path to income from partnerships.
The funds raised will be used to further accelerate Aerotruth’s global growth plans expanding the capabilities of the current product.
Co-founder and CEO Michael Liu said users have also been shortened onboarding processes taking months, and many have sought and completed partnerships others on the platform.
“I am very pleased with the quality and experience of the investor group we have put together. U.S investors share and support Aerotruth’s vision to be the online partnership of choice tool for the global financial services industry,” he said.
“With this latest round of funding, Aerotruth is out fto implement more technology to further improve the collaboration process for us customers.”
Archangel Ventures managing partner Ben Armstrong said he spent much of his career building business development revenue-generating relationships, Aerotruth was a great solution to the challenges he faced.
“We immediately saw the opportunity to bring more technology to solve this multifaceted problem in the financial services industry,” he said.
“Aerotruth has proven they can help some of the largest fintech players in the world solve these problems while running a distributed team from Australia, New Zealand and Asia.”
It was also the first deal from new investment syndicate Cut Through Angels, led by partner Simon Mckendry.
“Aerotruth has received overwhelmingly positive feedback from our angel members, especially those who work for larger companies and in professional services,” he said.
“Affiliate onboarding is a corporate nightmare, but Aerotruth makes it bearable”
