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3 Polish banks invest in local fintech offering e-signature solutions

PKO Bank Polski SA, Alior Bank SA, BNP Paribas Bank Polska SA and two venture capital funds invested a total of 17 million zlotys in Polish company Autenti Sp. z o.o., which offers a platform for digital document workflow and electronic signing of contracts, PAP reported Jan. 16.

The two venture capital funds, Innovation Nest Sp. z o.o. and Black Pearls VC SA, already invested 6.3 million zlotys in Autenti during an earlier financing round.

The banks believe that the Autenti investment will help accelerate their digitization by allowing them to implement e-signature solutions for clients and contractors.

Autenti plans to use the funds to finance further product development and international expansion, PAP noted.

BNP Paribas SA is the ultimate parent of BNP Paribas Bank Polska.

As of Jan. 15, US$1 was equivalent to 3.79 Polish zlotys.