Based in Turku, Finland, the smart contract archival service company Zefort has secured a successful funding round and signed major new customers during the world-wide corona crisis. Zefort’s software-as-a-service solution allows companies of all sizes to archive their contracts in a secure cloud service by sending a single email, with no effort in entering detailed metadata.
The recent funding round was aimed at boosting Zefort’s international growth and building a partner network. Zefort raised €150,000 from private investors and received a €150,000 product development loan from Business Finland.
“Corona’s impact on the economy is simply crushing. Luckily in some domains, such as the software business, we are able to provide a silver lining to the storm clouds. In our niche of digital contract management, the business is actually heating up, as an increasing number of contracts are being signed remotely in the cloud,” says Jussi Karttila, Zefort’s CEO.
Going forward, Zefort is aiming for growth in the international markets. In Finland, the software company builds on its key customers, including Senate Properties, Remedy Entertainment, Vincit and Aktia Bank. The company has recently inked a new deal with a major Nordic brewing company.
“It is fantastic to have a world-class service with cutting-edge technology and stylish user experience tackling the problems with contract management. As a bank with two centuries of history and experience, Aktia was happy to join forces with a new rising company as we both share the same enthusiasm about the possibilities of digitalization,” says Jarno Koskimäki, Legal Business Partner and Legal Counsel from Aktia Bank.
Founded in 2017 as Aivan.ai, Zefort develops a digital solution for archiving contracts. As part of the solution, Zefort’s proprietary Artificial Intelligence makes contract upload and processing extremely efficient. Zefort’s key competitive advantages also include its modern user interface and praised user experience.