Swiss Re-backed Digi.me has raised £4.2m in a Series A funding round. The UK-based start-up aims to build a data-sharing platform based on informed consent rather than disingenuous data-harvesting giving users total control over their data, while simultaneously helping businesses gain access to higher quality data. In the first stage of its funding, Digi will use the money to develop an open source data management system for businesses, which it hopes can be used by other companies and organisations as well. Digi.me sees itself as a librarian and postman providing the tools to selectively share data, including bank details and health records, when and where people want, addressing escalating privacy and security issues. The exchange could be used for services such as credit checking and streamlining on-boarding claims and helping promote better health for insurers, according to the firm's founder Julian Ranger.
Swiss Re-backed Digi.me has raised £4.2m in a Series A funding round. The UK-based start-up aims to build a data-sharing platform based on informed consent rather than disingenuous data-harvesting giving users total control over their data, while simultaneously helping businesses gain access to higher quality data. The encrypted data will be stored on individual's own devices, avoiding the creation of a centralised data pool which could be targeted by hackers. Digi.me sees itself as a librarian and postman providing the tools to selectively share data, including bank details and health records, when and where people want, addressing escalating privacy and security issues. The exchange could be used for services such as credit checking and streamlining on-boarding claims and helping promote better health for insurers, according to the firm's founder Julian Ranger.