Dotfile (HX21) raises €2.5M to build the modern compliance operating system for fintech

Founded by Vasco Alexandre and Titouan Benoit, Dotfile (eF#21) was launched out of our 2021 batch with the mission to help fintech and regulated businesses verify their customers. Today, the team is announcing a seed round of €2.5 million led by V13 INVEST (FDJ fund delegated to Serena), with participation from Kima Ventures, Pareto Holdings, Super Capital, Upscalers, and Polymatter Ventures. With this funding, Dotfile will accelerate its growth and expand internationally.

Businesses and individuals have shifted online to make an increasing amount of complex transactions. For instance, it’s now possible, from the comfort of your couch, to get approved for a loan from your bank. Gig-economy workers can get hired to work without even having set foot at the company’s HQ. And anyone can trade crypto-currencies online, in a matter of seconds. While facilitating access to such transactions enables individuals and companies to save huge amounts of time, it also opens up real risks of exploitation by fraudulent actors for money laundering purposes.

Enter Dotfile. We partnered with Vasco and Titouan to launch Dotfile in 2021, as we believe that organizations need more help than ever to verify their users & customers, and that the current tools at their disposal are not flexible enough to meet their needs. Businesses only had the choice to spend millions integrating multiple providers or developing in-house solutions.

Since leaving the studio six months ago, the team has worked incredibly hard to craft a product that allows businesses to approve their customers, be it individuals or businesses, anywhere in the world in less than 10 seconds. With Dotfile companies can create custom onboarding flows without a single line of code and drastically reduce risk and fraud. They’ve turned complex operational processes into ones that are flexible, seamless and efficient. With Dotfile, companies have now got everything they need to build their onboarding powerhouse.

What’s next

The Paris-based team will use the funding to develop its platform, leveraging an API-centric approach to allow customers to easily integrate verification capabilities into their own systems.

The company plans to double its workforce by the end of the year, opening up a dozen positions for engineers, product functions and compliance experts, as it looks to improve its technology. And the team is already hiring! If you are up for the challenge of building the modern compliance software for fintech then look no further than Dotfile. The team is amazing, the product vision is bold, the possibilities are endless.

And they’re not stopping here. While they mostly have French fintech customers for now, this round will allow Dotfile to conquer other types of companies in the financial sector and to export Dotfile internationally, first to Europe, then to the United States.

If you’d like to find out more about Dotfile, here’s their website, job offers, LinkedIn and Twitter.