Onfido builds AI-based identity verification tools that read identity documents and use facial recognition and other datapoints to confirm users for online onboarding. Its customers include major banks, government bodies, transportation-on-demand companies, healthcare organizations, remittance and payments firms, and non-profits. Recent demand has accelerated specific verticals: healthcare onboarding spiked 4x, remittance/payments 1.3x, and non-profit volunteer verification 6x in recent weeks. R&D is based in London while much of the business team operates out of California. The company is pursuing an ambition to build an alternative “identity layer” of the internet to reduce reliance on credit bureaus and social logins and to enable reuse of verified identities without repeatedly sharing sensitive data. It is also trialing new use cases such as virtual voting, remote passport/visa verification, and privacy-preserving contact tracing. Onfido is a London-based identity verification provider that uses AI to assess whether a user’s government-issued ID is genuine and compare it against facial biometrics. Its system enables customers in financial services, transportation, online marketplaces & communities, gambling and other industries to verify users in seconds using a photo of an identity document and a selfie video. The platform automates checks on over 4,500 document types across 195 countries, detecting anomalies automatically while routing outliers to human experts. The company has 250 technologists spread across six countries and serves over 1,500 customers, including Current, DraftKings, Europcar, Indiegogo, Remitly and Zipcar. Onfido raised $50M in a funding round that brought total funding to date to over $100M. It plans to use the proceeds to consolidate its core U.S. market, accelerate expansion into Europe and South‑East Asia, and advance product development. Onfido offers an AI-based identity verification service that compares a user’s live selfie (with liveness actions) to a photo ID and runs document checks across roughly 600 formats. The platform outputs a risk report that flags matches as compatible, mostly compatible, or requiring further review, leaving the decision and liability to the requesting company. The startup began in 2012 focused on background checks for on-demand businesses and has shifted toward financial services and e-commerce. It serves about 1,500 customers, including Square, Revolut and Zipcar, and employs a strong team of machine-learning and computer-vision engineers. Onfido says its revenues have grown five-fold in the last year and that it believes 95% of the market remains untapped. The company is focused on the U.K., U.S. and India and plans to expand into Latin America. Onfido delivers machine-learning powered identity verification software used across sectors to verify individuals before running criminal or anti-money-laundering checks. Founded in 2012 by Husayn Kassai, the company works with more than 1,000 clients globally, including BlaBlaCar, Deliveroo and JustGiving. It is based in London and also has an office in San Francisco. The company had raised a $25m Series B in April 2016 and has received over $30m in funding to date. Onfido says it will use the new capital to further advance its identity verification solutions. The product is positioned for use by businesses in financial services and other industries requiring pre-check identity verification. Onfido provides an API-driven identity and background-checking platform that performs basic ID checks in seconds and applies machine learning to detect fraud across roughly 20 categories such as credit ratings and document verification. The service integrates into customers' HR and marketplace systems and combines automated checks with targeted manual work (for example, U.S. criminal-record checks that require courthouse visits). Onfido says it has 1,000+ customers and has processed 10 million checks across the U.S., Europe, Latin America and Asia. Its core customer base includes on-demand marketplaces and platforms such as Handy, TaskRabbit, Deliveroo, BlaBlaCar and JustGiving. The company emphasizes building a "trust engine" and is focused on improving its machine-learning models so the platform gets faster and more accurate with each check. Business is growing quickly — the company reports 40% month-on-month growth — and it plans to continue international expansion, with particular emphasis on the U.S.

Total raised

$210M

Funding rounds

6

Latest round

Equity

Latest activity

Apr 2020