3 years ago

OCR Labs Raises $30 Million in Series B Funding to Expand Globally

  • OCR Labs, a London, UK-based provider of a verification technology platform, has raised $30 million in Series B funding led by Equable Capital

  • The company plans to use the funds to expand its team in North America and EMEA

  • OCR Labs provides a solution that supports Anti Money Laundering (AML) and Know Your Customer (KYC) regulations, improving customer identity verification while reducing fraud

  • The company supports clients across industries including financial services, government, telco, crypto and a variety of platform-based businesses

  • Since announcing its Series A last year, OCR Labs has continued to scale into the UK and European markets

  • The company is headquartered in London, UK with offices in Australia and Turkey.

      • ProblemTechnology

      "Verifying customer identities online is complex and risky. Current methods often rely on manual checks, which are slow and prone to error. Fraudsters are becoming more sophisticated, costing businesses millions in losses."

      Solution

      "OCR Labs provides a technology platform for digital identity verification. Their AI-powered system is faster and more secure than traditional methods, helping businesses to comply with regulations and prevent fraud."

      Covered on