Dublin-headquartered Moqom, which provides customer identity services to the financial services industry, has raised additional financing that will take investment in the company to $3m.
The additional financing comes from Pinemount Ltd.
Moqom aims to establish itself as an industry leader in the identity space. Its technology enables banks to implement multi-factor authentication and manage customer identity across channels such as SMS, video, apps or phone.
‘The funds will bolster, accelerate, and seal our plans for the future’
– COLIN LARKIN, MOQOM
The company will use the additional capital to expand its operations in response to rising demand for its products and services across Ireland and the UK.
“This round comes at a pivotal time for Moqom as we continue to move the business forward to meet industry demands,” said the company’s founder and CEO, Colin Larkin.
“Proceeds will be used for continued research and development, industrialising current IP, and exploration and expansion into new markets and opportunities. The funds will bolster, accelerate, and seal our plans for the future.”
In particular, the company will focus on the security of financial services.
“The potential of the company is phenomenal, and this round will give Moqom the much-needed push to go and realise their plans for the next year, while monetising their impressive IP portfolio,” said Pinemount director Niall McHugh.
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