• Veridu

  Participated · Seed · Oct 2015

  Veridu is a London-based startup, founded in 2012, that offers identity verification solutions for the payments industry. It uses advanced algorithms and individuals' social media profiles, with user consent, to score how trustworthy a person's identity is and share that information with merchants and platforms. The product is designed to reduce fraud and false positives in cross-border and high-risk online transactions. Veridu says the fresh capital from Worldpay will support further development and a global rollout of its solutions. The recent investment from Worldpay was undisclosed; Veridu previously raised £800,000 about six months earlier. Founder Rasmus Groth has stated he expects a valuation of £20–25 million in 2017. Veridu builds a global identity-verification platform using advanced technology and complex algorithms to state the probability that an individual is properly identified in seconds. The company provides specific customer insight to help firms target content and communications and to increase trust between parties on digital marketplaces and in the sharing economy. Veridu was founded in 2012 in Copenhagen by Rasmus Groth and later moved the business to London. The startup raised £800K in a seed round from a mix of investment funds and independent investors. Management planned to use the funds to hire data scientists and statisticians, create a team focused on major clients and partners, and develop a self-service solution targeted for spring 2016, with plans to begin a Series A the following spring. An update in February 2023 notes the startup appears no longer in business under its website.

No current team members are available.