Asset manager Providence Equity Partners has paid an undisclosed amount for a majority stake in Signaturit, a Spain-headquartered electronic signature technology developer backed by financial services firm Banco Sabadell.
Providence made the investment through growth capital affiliate Providence Strategic Growth (PSG), and the company’s founders will retain their stakes.
Founded in 2013, Signaturit has developed software that allows users to send and digitally sign documents, in addition to an identity verification tool.
Banco Sabadell’s BStartup10 unit joined angel network Esade Ban to provide $640,000 for the company in 2015. It added $3.1m from Banco Sabadell, Bonsai Partners, Faraday Venture Partners and Nero Ventures two years later.
All the 2017 investors returned for a $7.9m round in February 2019 that was led by 360 Capital and also backed by Bbooster Ventures.
Juan Zamora, co-founder and chief executive of Signaturit said: “We are a team with clear global ambition and are delighted to have entered into this partnership with PSG, which has a strong track record of supporting [software-as-a-service] companies.
“Their investment positions us for future growth while enabling us to continue providing exceptional service to our many customers.”
