Microsoft among the backers as Onfido raises £22mn

- Technology - Sep 28, 2017

Onfido has raised £22mn in its latest round of funding, with Microsoft Ventures among the backers led by Crane.

The British tech startup, which creates ID verification technology for businesses, announced details of its Series C round in a statement on Thursday. 

Salesforce Ventures are among the other investors in the group, with the money set to allow Onfido to explore opportunities in Latin America and Far East markets.

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"With​ ​our​ ​identity​ ​verification​ ​technology,​ ​​underserved​ ​people​ ​can​ ​access​ ​online​ ​services they​ ​need,​ ​and​ ​businesses​ ​can​ ​gain​ ​access​ ​to​ ​a​ ​whole​ ​new​ ​group​ ​of​ ​trusted​ ​customers," said Onfido CEO Husayn Kassai.

"Just​ ​as​ ​money​ ​was​ ​required​ ​to​ ​oil​ ​the​ ​wheels​ ​of​ ​commerce​ ​in​ ​previous centuries,​ ​your​ ​legal​ ​identity​ ​is​ ​pivotal​ ​to​ ​enable​ ​transactions​ ​as​ ​we​ ​move​ ​to​ ​a​ ​digital​ ​world.​ ​

"As identity​ ​verification​ ​technology​ ​continues​ ​to​ ​evolve,​ ​it​ ​will​ ​become​ ​the​ ​key​ ​to​ ​remotely​ ​unlocking a​ ​huge​ ​range​ ​of​ ​products​ ​globally,​ ​from​ ​banking​ ​and​ ​travel​ ​services​ ​through​ ​to​ ​voting​ ​and healthcare."

Onfido launched in 2012 after being started by three Oxford University but it now employs 150 workers and provides its technology to the likes of Square, Zipcar and Revolut. 

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