I’m thrilled to share the news that here at Onfido, we’ve secured funding to further advance our identity verification solution for financial services.
Investment from Salesforce Ventures – Salesforce’s corporate investment group – is supported by funding from Talis Capital and leading angel investors Charlie Songhurst, founder of Katana Capital and former Head of Corporate Strategy at Microsoft; and Hank Vigil, a general partner at Acequia Capital and former Senior Vice President of Strategy and Partnerships at Microsoft. I know I speak for everyone at Onfido when I say how delighted we are to have their support on this part of our journey.
This follows hot on the heels of our Series B funding in April of this year, where we raised a round led by Idinvest and with participation from CrunchFund and Wellington Partners. Suffice to say, 2016 has been a big year so far for Onfido – and we’re nowhere near done yet.
As Fintech innovation continues to disrupt the financial services market, new methods of identity verification are required, and it’s here that Onfido’s solution, powered by machine learning, really excels. On average, around 30-50% of consumers in some sectors won’t complete in-person identity verification; it’s slow, manual and often fails. By contrast, our remote, robust identity verification solution helps our clients onboard more users while reducing dropout and fraud. With the support of our new investors, we’ll be able to take our next-generation identity verification technology to new markets.
I’m incredibly proud of how Onfido has progressed so far – our team’s grown to over 145, and our portfolio of clients includes some of the leading lights in the global Fintech community. We’re scaling rapidly, and have huge ambitions for the future – with this new funding, we’re one step closer to achieving them. Watch this space.