Onfido, an identity verification and background checking provider, has closed a $25m Series B funding round.
The round drew support from Idinvest Partners, Wellington Partners Venture Capital and Crunchfund.
Husayn Kassai, CEO and co-founder, said: “Background checking isn’t new – what has changed is business. Legacy background checks – manual and dependent on a face-to-face meeting – worked for an offline world. Today online companies need a new system that works instantly and remotely.
“Powered by machine-learning, we have built a product that allows businesses to accurately verify the identity of anyone in the world – a driver in Delhi, a cleaner in Berlin, a host in New York – within seconds. Only when the identity has been verified, do we run further searches such as Criminal or anti-money laundering checks. This means we can always be certain that we’re checking the right person,” concluded the CEO.
The firm will use the funds to scale its US operations and to continue developing its machine-learning based technology.
“Onfido solves a fundamental problem for the digital economy: how do I know somebody is who they claim to be, and can I trust them? This problem persists across sectors and geographies, and Onfido’s solution is the only one that can truly verify identities remotely and at scale,” said Matthieu Baret, partner at Idinvest Partners.
Founded in 2012, the startup, which bagged $4.5m in funding last year, says it now works with over 1,000 clients.