Funding Round attributes
Dublin-based Customs Window Technologies (CWT), a RegTech startup specializing in customs compliance solutions, has raised €800,000 in seed funding. The funding round was led by private and EIIS (Employment and Investment Incentive Scheme) investors, with additional support from Enterprise Ireland’s High Potential Start-Up (HPSU) funding program. This new capital will help Customs Window accelerate its expansion into the UK market, where it aims to address rising customs compliance complexities amid post-Brexit regulatory changes.
Founded in 2022 by Brian Murphy and Johnny Dunne, CWT operates out of NexusUCD, University College Dublin's innovation hub. The company’s software platform is designed to simplify the customs declaration process, helping businesses navigate the intricate compliance requirements associated with international trade. Customs Window’s technology automates data handling for customs declarations, making compliance more manageable for businesses facing increasing volumes of paperwork due to regulatory shifts. In 2023 alone, over 91 million customs declarations were filed with HM Revenue and Customs (HMRC), highlighting the growing demand for streamlined customs solutions.
Brian Murphy, COO and co-founder of Customs Window, explained the company’s focus on addressing critical pain points in customs compliance. “Customs Window was established partly as a response to Brexit, but also in response to a lack of compliance solutions in the area of customs,” Murphy noted. He elaborated on the heightened need for compliance technology as e-commerce expands and regulatory frameworks evolve across Europe. “Our system addresses the compliance risks that companies face when dealing with customs authorities, removes the complexity out of the customs declaration process, and protects customs datasets over time.”
Anne Lanigan, Divisional Manager for Technology & Services at Enterprise Ireland, praised Customs Window’s innovative approach and emphasized the importance of supporting Irish companies that tackle global challenges. “Products and services from pioneering Irish entrepreneurs are gaining increasing recognition in their ability to address global challenges. Customs Window Technologies and their innovative solution is a prime example of this as they begin their journey to scale in new international markets,” Lanigan stated.
In addition to its recent seed funding, Customs Window previously received €100,000 from Enterprise Ireland’s Pre-Seed Start Fund (PSSF), which helped the company lay the groundwork for its expansion into the UK. The latest funding will be directed toward enhancing the platform's features, expanding its customer base, and establishing a more substantial presence within the UK. This move aligns with Customs Window’s strategy to position itself as a key solution for businesses grappling with the regulatory demands of post-Brexit customs management.
As Customs Window continues its growth trajectory, the startup is expected to play an increasingly important role in the RegTech landscape, providing solutions that address the needs of businesses involved in cross-border trade. With rising e-commerce activity and new compliance requirements affecting international transactions, CWT's tools are well-positioned to support companies striving to stay compliant while minimizing administrative burdens.
Customs Window’s development represents a significant step forward for the Irish RegTech industry, illustrating the potential of compliance technology to improve operational efficiency for businesses in the UK and beyond. Through continued innovation and strategic expansion, Customs Window aims to simplify customs compliance processes, allowing companies to focus on growth without being hindered by regulatory complexities.
