MOUNTAIN VIEW, Calif., Aug. 5, 2021 /PRNewswire/ -- TABS Suite is set to release its Fund of Funds (LP / GP Due Diligence) module alongside their automated Code Review module for technical due diligence this week. The release of these long-anticipated modules comes during the official kick off of TABS' partnership with Deutsche Handelsbank this week, as it expands the Diligence-as-a-Service suite to the European venture market. The deal, poised as a pilot for a much larger collaboration, was spearheaded by TABS Chief Strategy Officer, Unnat Bak, and Deutsche Handelsbank's Chief Executive Officer, Jens Munk, as part of the bank's effort to expand their already large footprint within the European startup ecosystem.
"The Deutsche Handelsbank Team is thrilled to work closely with TABS Suite to bring and integrate Diligence-as-a-Service with Banking-as-a-Service. We are deeply rooted in the technology startup ecosystem and our dedication to partnering with innovative technology companies becomes worth it when a company like TABS Suite comes along," Munk explains. "As one of Europe's most prominent banks, supporting digital startups and growth companies is our central mission. The TABS platform will without a doubt help us expand our reach and shape the future together."
This deal stems from the launch of a new type of TABS diligence assessment (TABS LP), centered around evaluating and scoring venture capital firms, their general partners, and their first few investments. Atim Kabra, the Co-Founder and Managing Director at TABS Suite, explains the move as "a strategic step in expanding the platform's user base to traditional fund of funds, foreign governments, family offices, etc." TABS plans to use a portion of the new financing round to augment the rollout of the Suite and these new functionalities to both new and underserved markets.
Investors signed up for TABS' full Suite of products, who have access to TABS' beta functionalities, have also been taken aback by the sheer power and utility of the TABS Suite Code / Technical Due Diligence modules. Allowing potential Investors of startups, their founders (and their management teams) to be able to upload three to five random source code files to judge the scalability, efficiency, and protection against common vulnerabilities is a massive value-add to any TABS Suite subscriber. Traditionally, investors have taken the 'leap of faith' with a founder who is well spoken, well dressed, and knowledgeable about their industry domain - all whilst their codebase could be disastrous, or even duplicated and plagiarized by an outsourced team, etc. With TABS' Code Review module, Investors can peek 'under the hood' of the code without having the technical expertise or knowledge of the individual programming languages to gauge efficiency, scalability, vulnerability, and more.
TABS has continued to experience unprecedented growth in the rapidly evolving FinTech market, and expects the fund of funds due diligence, aka the LP/GP assessment, to add volumes to it. Working with Deutsche Handelsbank is the first step in a multi-faceted expansion plan to all types of financial institutions. Following the release of its LP/GP fund of funds diligence assessment, TABS has initiated conversations with several major banks, local US governments, private equity, and venture debt investment firms, expecting to kick off Q1 2022 with additional partnerships, both locally and globally, worth 7-figures at the least.
About TABS Suite: Engineered by successful serial entrepreneurs and veteran seed investors, the TABS Suite is the first DaaS (Diligence-as-a-Service) platform that provides a comprehensive, holistic, and in-depth qualitative evaluation of an early-stage venture (from Seed to Series A). Founders interact with the TABS machine-learning platform which takes a 'full-body x-ray" and scores the company by giving value to intangibles encompassing non-balance sheet assets. accompanied by a detailed diagnostic report, an action plan with specific steps, comparative analytics, and tailored recommendations. The TABS Suite has been widely adopted as a way for anyone to take a look under the hood of a growing venture, be it an individual angel, a micro-VC, a family office, or an established incubator, in a fraction of both the time and cost the process usually takes.
Contact: Unnat Bak, TABS
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SOURCE TABS Suite