Contxto – Earlier in May, the Mexican legaltech startup, Trato, formalized a seed round of US$350 thousand from Dux Capital. Fun fact, the whole shebang was actually signed and processed through the Trato platform.
Trato is a cloud-based SaaS platform helping small and medium businesses automate meticulous legal processes. Users can create, manage and collaborate on contracts and private documents, all while ensuring the safety and privacy of the information.
On top of the blockchain system, it also developed big data and machine learning algorithms allowing users to identify potential flaws. They can even update the clauses based on the legislation’s newest amendments or renewals, both national and global.
Additionally, Trato’s platform can suggest incorporating potentially missing clauses and even electronically sign the contract with a mutual understanding of the parties involved. This enables the creation of new documents as well as editing or replicating of the originals.
This is Dux’s fourth investment for its SUM fund I.
The company began in 2015, but it has already achieved some notable milestones. Some of them include winning third place in the tech-focused contest IEX/INGAM; the Endeavor and Erasmus Program, Get in the Ring.
Forbes also chose Trato as one of the 30 most promising startups in 2019. The British Government acceleration initiative, Global Entrepreneur Programme, also selected Trato to participate. Finally, the startup was also chosen to participate in MassChallenge Boston’s next batch.
On top of the fresh funds, Dux Capital aims to help the company structure its corporate government and finance departments. With the assistance of the fund’s shared services, Trato will be able to enjoy Dux Financial Officer’s management advisory.
With this, Dux will help restructure the corporate government, install optimal treasury and accounting practices, efficiency in capital structure, payments and charges, as well as boost commercial efforts with help of the fund’s network.