Scrive triples sales with service that kills paper contracts – Breakit (press release)

Swedish Scrive has developed software that allows customers to sign contracts digitally instead of using pen and paper. The company has been operating since 2010.

“When we started it was just too early. The market was not ready. It is only now that it is starting to move in earnest, “said CEO Lukas Scrives Duczko.

The company tripled sales in 2015, when it rose to 8.7 million. Luke Duczko expects sales to rise to just under 20 million this year.

The rise is mainly due to the company’s large enterprise customers have become more active in the service. The customer list includes, among other car rental giant Avis and telecom giants TeliaSonera and Telenor, which uses Scrive to sign agreements with customers in the store.

Scrive charge in three ways: per store, per transaction or per user. The company develops no own hardware without installing the software on tablet devices that customers use to signatures.

“I can not say exactly how much our contracts with enterprise customers are worth to us. But it is quite clear that we have more money, the more shops Avis, Telia and Telenor are rolling out e-signing in. It is the main growth engine for us right now, “said Luke Duczko.

So far, shows the company is far from black. Losses in 2015 landed at 11.6 million.

Luke Duczko says Scrive, if the company chooses to do so, can achieve profitability in 2016, but the goal is to expand more rapidly after the next round of venture capital – and thus continue make a loss.

“We will take 25 percent of total e-signing market that is now emerging in the world. To get there as quickly as possible, we need to invest in growth, “he says.

The company has so far brought in a total of 27 million in venture capital, from among private investor Martin Wattin and Brummer Founder Svante Elfving.

“the plan is that we will bring in a new round of this year to be significantly greater than the 27 million that we have so far brought in,” said Luke Duczko.

Note: Scrive has split financial year. The figures in this article refers However calendar.