Onfido celebrates 342% growth year-over-year in 2018

Niamh Cassidy

 

We're celebrating a landmark year for Onfido that has seen strong company growth, the appointment of key senior team members, recognition in numerous industry awards, and notable global client wins.

With a suite of new product features, rapid international growth and strong sales across a range of industries, Onfido achieved 342% sales growth year-over-year in 2018, contributing to an impressive four-year growth rate of 3,857%.

“It's been a milestone year for us at Onfido, and we’re particularly proud of the growing trend of trial before you buy that we’ve successfully been able to establish,” said Husayn Kassai, CEO and co-founder of Onfido. “This reinforces the team’s belief that our AI-powered identity verification offering is the leading solution on the market. We look forward to building on this year’s achievements even further in 2019.”

 
Onfido welcomed more expert talent to its growing team this year with several key hires including David Clarke as Chief Financial Officer; Chrissy Dal Porto, Ruth Penfold and Amy Wallace as Vice President of Global Marketing, Director of People and General Counsel respectively; and Michael Van Gestel as Identity Document Fraud Consultant. These senior hires have brought extensive expertise to Onfido’s 220-strong team across offices in San Francisco, New York, London, Lisbon, New Delhi and Singapore.
 
The new client partnerships announced in 2018 included digital money transfer companies TransferGo and Remitly, and cryptocurrency exchange Bitstamp. Onfido now provides best-in-class identity verification to over 1500 leading companies across a range of industries, with several major new partners to be announced in 2019.
 
2018 also saw the company build out its product offering, with the introduction of new proprietary technologies such as facial liveness testing, which provides the market’s most robust protection against spoofing attempts, and a new Flash package, which validates a user’s ID in under 15 seconds. Onfido’s comprehensive and multi-tiered identity document verification service boasts the ability to provide businesses with an effective, secure and seamless way to verify their users’ identity. This has now been complemented with the incorporation of Chinese and Japanese characters, enabling a truly international, forward-facing solution for businesses around the world.

Onfido also received plaudits in numerous influential industry awards throughout the year. In November, Onfido was recognised as one of the UK’s fastest growing tech companies in Deloitte’s UK Tech Fast 50 Awards. Onfido’s tech was also honored in Juniper Research’s Future Digital Awards as its Best AI Platform and was listed for the second year running in the CBInsights FinTech 250, which ranks the most promising FinTech companies globally, and the RegTech 100. CEO Husayn Kassai was also named one of the UK’s top 100 black and minority ethnic leaders driving progress in technology in Inclusive Boards and the Financial Times’ IB100 list.

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