Onfido, the global identity verification, and re-authentication provider has raised $100 million (approx €92 million) funding. The round was led by global investment firm TPG Growth, which has also backed Airbnb and Uber previously. This new financing round brings Onfido’s total funding to $200 million (approx €183 million).
Plans to consolidate the US market!
The company intends to use this funding to accelerate its machine learning technology and expansion into high-growth regions, including Europe and South-East Asia as well. Also, the company plans to continue its momentum across North America with a recent partnership with ForgeRock and Okta. Notably, the company works with major brands such as Expensify Inc., Revolut Ltd., and Zipcar Inc.
Founded by Eamon Jubbawy, Husayn Kassai, and Ruhul Amin in 2012, Onfido helps businesses identify their users using Government IDs and facial biometrics by deploying AI to ensure that IDs are genuine and matching the users presenting them.
Offering identity verification for free!
Amid the COVID-19 pandemic, the London-based company has launched an initiative to provide identity verification to organizations that are supporting the relief effort.
“We’re offering our fully-automated document and selfie service for no cost for the next six months for non-profits or charity organizations working directly on providing relief from the COVID-19 outbreak. If you are not-for-profit or charity in healthcare, home service, education, or others working directly on an effort to provide relief from the COVID-19 outbreak, you can apply here.”
First partner!
Right now, the UK company has already partnered with Florence, who supply registered nurses, care workers, and volunteers to care homes. On the other hand, in Online healthcare and pharmacies, Onfido has seen a 4X weekly demand increase.
CEO and co-founder Husayn Kassai said in a statement:
“Over the coming years, we’ll all be able to use our real identity to seamlessly access everything from financial services, online healthcare, and trust marketplaces to self-check-ins at airports, hotels, and car rentals. Passwords will become a thing of the past as a method for accessing digital services, as will queuing for hours to vote in person. We’re standardizing the way everyone proves their real identity, in a similar way to how Facebook has standardised the way everyone shares their social identity, and Linkedin has standardised the way everyone signals their professional identity”.
New accessibility features!
A few weeks back, Onfido also announced new accessibility features to its Software Development Kit (SDK), focused on enabling people with disabilities and impairments to connect to more businesses and services remotely with secure digital access. This allows customers to verify more users during registration, identity verification, and re-authentication, improving the digital customer journey with the highest level of fraud protection.
Main image credits: Onfido
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