Onfido raises $100m for AI-led ID verification

Image from Onfido raises $100m for AI-led ID verification News Article

15th April 2020

Onfido, an ID verification company which started life in the OUI Incubator, has raised $100m in its latest fundraising round.

The company allows firms to verify the identity of users through AI-driven analysis of documents, such as passports or driving licences. The technology is already in use by banks, government and a number of businesses.

The company plans to use the money to continue expanding its business, with a strong eye on the US, as well as utilisation of the technology as another step of account security for social media companies and potential uses related to the pandemic.

The round was led by TPG Growth. To date, Onfido has raised $200m.

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