LOQR announced €8 million series A backed by Iberis Capital and Semapa Next

LOQR, a Braga, Portugal-based software developer of a digital onboarding platform for financial institutions, announced completing a series A funding round of €8 million ($9.5M).

The money was raised from Iberis Capital, Semapa Next, EDP Ventures, BiG Start Ventures and HCapital – the last two through funds in partnership with Banco Português de Fomento.

LOQR, founded in 2015 by Jorge Silva, João Cerdeira, Pedro Borges and CEO Ricardo Costa, developed a fully compliant end-to-end platform that allows highly regulated verticals to take the next step to a digital business. This includes offering services as remote account opening, customer data update and remote access recovery, and other services, as an integrated digital channel. The company is active in Portugal, working with five of the six most renowned and leading national banks. Some of its clients are: Santander (a major global player), Caixa Geral de Depósitos (a major player in the Portuguese financial market operating span over 22 countries in Europe, Africa, America and Asia), Millennium BCP (present in Portugal, Poland, Switzerland, Mozambique, Angola and China), ActivoBank, a Retail Banking by Millenium BCP, Banco Montepio, Banco Português de Gestão, BiG, Montepio Crédito and Novo Banco.