This latest round was led by new investor Crane Venture Partners, with participation also from Microsoft Ventures in its first European investment, Salesforce Ventures and other unnamed backers.
Onfido has been gradually shifting its focus more to financial services and ecommerce, and specifically identity checks for businesses in these verticals. The company seeks to build a way to help websites verify people’s identities using a photo-based identity document, a selfie and artificial intelligence algorithms.
Onfido solution checks that one is not using a static photo, compares the face in the selfie to the picture on the ID card, while also running the ID card check at the same time. Its algorithms then provide a risk report and all the data is then passed on to the company requesting the checks, both compatible checks and those that are flagged for further checks.
The company will continue to tap into the opportunity for solving ID verification in financial services. Onfido’s core focus is the UK, US and India and it plans to expand into Latin America, too.
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