In a significant boost to Salzburg’s thriving tech scene, the European Super Angels Club (ESAC) and co-investors have invested over €3 million in the promising e-signature startup, sproof. Led by Austrian President and Investor Berthold Baurek-Karlic, this investment certainly reaffirms the strength of European technology. Furthermore, it positions ESAC as sproof’s largest single investor. The funding comes from ESAC’s syndicate fund, international co-investors, and support from FFG, marking a significant milestone in sproof’s journey.
Defying Market Giants
Despite the challenges posed by established industry giants like DocuSign, sproof’s founders have succeeded in attracting substantial investment. Alongside ESAC and Michael Repnik, notable figures have joined forces to fuel sproof’s continued growth. These specifically include Russell Perry (Founder and former CEO of 360kompany AG), Michael Rüdiger (Chairman of BlackRock Asset Management Deutschland AG), Stefan Schneider (Managing Director of Quidam Beteiligungen GmbH), and Stiglechner GmbH.
Powering Cross-Border Trust
The allure of a European e-signature solution that unifies trust service providers across the European Union is undeniable. Furthermore, this investment paves the way for qualified e-signatures to facilitate secure cross-border legal transactions. sproof undeniably offers a game-changing solution in today’s digital landscape.
Berthold Baurek-Karlic, Founder and President of ESAC, expressed his pride in recognizing sproof’s potential early on. He emphasized their shared vision of replacing handwritten signatures with qualified e-signatures in Europe. This ensures security and compliance.
Quality Investments Yield Remarkable Returns
ESAC’s deliberate approach to investment has paid off handsomely. With 13 investments in its Luxembourg syndicate fund, “EXF Alpha,” from four countries and €11.5 million invested directly in companies, ESAC prioritizes quality over quantity. Their hands-on approach unquestionably ensures portfolio companies receive the support needed for optimal growth. As a result, ESAC has a combined valuation of over €200 million for the club’s portfolio companies.
sproof’s Journey and Vision
Founded in 2019 as a spin-off from the University of Applied Sciences in Salzburg, sproof has quickly emerged as a leading provider of web and API solutions. It streamlines signature processes across Europe, all while adhering to stringent legal standards. With ESAC’s backing and support from co-investors, sproof is undoubtedly poised to expand its presence beyond the DACH region. International partnerships, software integrations, and RegTech solutions will further propel sproof into the global arena.
Notably, sproof has already gained the trust of industry leaders and top companies, including Sony DADC, Kyocera, Linde Verlag, teleclinic, Salzburg AG, Energie AG, Bank Gutmann, and medical device manufacturer W&H.
ESAC’s Commitment to Innovation
Overall, the European Super Angels Club remains committed to nurturing innovation and supporting exceptional startups. Moreover, with a focus on high-growth potential, ESAC actively shapes the future of the European technology landscape. Moreover, through its syndicated fund, “EXF Alpha,” based in Luxembourg, ESAC provides its members with access to international co-investments in European startups.
The European Super Angels Club celebrates sproof’s success and looks forward to witnessing the continued growth and innovation.
For more information about ESAC and sproof, please visit their respective websites.