Augmentum are delighted to have invested £4.0m in Onfido as part of their fundraise. “Digital identity verification is one of the key growth areas within fintech, where both incumbents and emerging players are all focusing significant energies. We believe Onfido will soon underpin much of the B2C fintech ecosystem and ultimately become the global leader in this space”, says Augmentum’s Tim Levene.
A PR Newswire article published today said the following;
“Onfido, the global identity verification provider, today announced it has raised $50M in funding, bringing the total investment in the company to over $100M. The round was led by SBI Investment and Salesforce Ventures, with support from M12 (formerly Microsoft Ventures), FinVC and others, including existing investors. Frank van Veenendaal, former Chief Sales Officer and Vice Chairman of Salesforce, joins Onfido’s board.
The investment will accelerate Onfido’s goal of using AI to standardise the way businesses verify identities in a scalable and secure way. It will help Onfido consolidate its core market in the USA, accelerate its expansion into high-growth regions including Europe and South-East Asia, as well as advancing product development. “