Partner Article

Identity check tech startup aimed at the Airbnb and Uber economy secures $25m funding

London and San Francisco-based identity verification provider Onfido has announced it has successfully closed a $25m Series B funding round.

The successful funding round included backing from Idinvest Partners, Wellington Partners and CrunchFund, and Onfido plans to use the new investment to scale its US operations and develop its machine-learning technology.

Founded in 2012 by Eamon Jubbawy and Husayn Kassai, the tech firm utilises machine-learning that it claims allows businesses to accurately verify the identity of anyone in the world within seconds.

Since its foundation, the startup has worked with over 1,000 clients, and has found particular success amongst FinTech and sharing economy businesses, such as home cleaning service Handy and car rental firm Turo, where identity verification is of utmost importance.

Eamon Jubbawy, Chief Compliance Officer and Onfido co-founder, said: “Our machine-learning based technology is what sets us apart. The more checks we carry out, the more intelligent our product becomes. It becomes quicker at identifying individuals with a thin or no credit file, more efficient at detecting sophisticated forgeries and more effective at verifying uncommon documents.”

Matthieu Baret, Partner at Idinvest added: “We’re delighted to join Husayn, Eamon and Ruhul at this exciting stage. In what is set to be a testing year for many startups, Onfido has the product and business model that will allow them to continue their strong upwards trajectory.

“This is why we invested and we look forward to working together as they expand to new markets and territories.”

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