Idinvest invests in the start-up Onfido, specialist in identity verification

by bold-lichterman

The amount

Onfido, a British start-up specializing in identity verification, has just raised 25 million dollars (22.2 million euros) from the French venture capital firm Idinvest Partners, as well as Wellington Partners and CrunchFund. The company had already completed a funding round of $ 4.5 million last year.

The market

graphFounded in 2012 by Husayn Kassai, Eamon Jubbawy and Ruhul Amin, Onfido is aimed in particular at players in the so-called “collaborative” economy or even FinTechs who need to ensure that their users register with their true identity. To do this, Onfido has developed several solutions, one of which can be used to analyze identity documents, such as a passport, in order to check their validity and compliance remotely.

The company also offers other offers for recruiters or even the banking sector with a “credit check” service. In the end, Onfido claims more than 1,000 customers using its services, including the carpooling specialist Blablacar, and claims to have carried out more than 10 million “checks”. “Our machine learning-based technology is what sets us apart. The more checks we carry out, the smarter our product becomes ”, explains Eamon Jubbawy in a note blog.

The objectives of the Start-up

With this new investment, Onfido announces that it wants to continue developing its technology and strengthen its position in the United States, where it is meeting strong demand. In fact, the company has an office in San Francisco.

Founders: Husayn Kassai, Eamon Jubbawy and Ruhul Amin

Creation: 2012

Offices: London (United Kingdom), San Francisco (United States)

Activity: identity verification technology

Funding: over $ 29 million raised

Photo credit: Onfido.