6 years ago

Onfido Secures $50 Million in Funding to Expand Global Identity Verification Services

  • Onfido, a UK-based identity verification provider, has raised $50 million in Series D funding led by Softbank Investment (SBI) and Salesforce Ventures

  • The funding will be used to expand into high-growth regions like Europe and Southeast Asia, advance product development, and consolidate its market position in the USA

  • Onfido's AI-powered system verifies users' identity through government-issued IDs and facial biometrics, enabling access to online services across various industries

  • The company has over 1,500 customers, including industry leaders like Current, DraftKings, Europcar, Indiegogo, Remitly, and Zipcar.

      • ProblemTechnology

      "Verifying someone's identity online is a slow and cumbersome process. It requires manual checks and can take days to complete, which creates a barrier to entry for many people."

      Solution

      "Onfido has developed an AI-powered identity verification system that can verify a person's identity in seconds using a photo of their ID and a selfie video. This makes it easier for people to access online services and eliminates the need for manual checks."

      Covered on