Deals

Contego gets $1.4M to save your business from fraud with software

Contego wants to make sure that business or person you’re about to hire on isn’t a fake or a risky move.

It created a “fraud protection” software product that earned it $1.4 million in its first round of funding today.

Contego nicely calls its product “due diligence software” — the program that’s going to tell you if there’s any reason why you shouldn’t hire this person or use that company’s service. It’s about mitigating risk, making sure those people and businesses you’re getting involved with aren’t going to cause your business harm, financial loss, or data loss.

Specifically, Cotengo offers its products to “virtual offices,” recruitment departments, pre-employment screening businesses, financial services, and more.

Contego is based in Oxfordshire and was founded in 2010. The company has taken on a total of $2.2 million to date. It first got its seed round in 2012. Investors include London Business Angel Investors, the Rainbow Seed Funding, the Angel CoFund, Cass Entrepreneurship Fund, and other investors.