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Onfido gets $100m for new identity standard

By Peter Walker

Onfido has raised a $100 million in funding from new and existing investors, including TPG Growth.

This brings the total investment in the identity verification and authentication company to $200 million and accelerates its mission to deliver a new identity standard that helps people easily and securely access digital services.

“Over the coming years, we’ll all be able to use our real identity to seamlessly access everything from financial services, online healthcare and trust marketplaces, to self-check-ins at airports, hotels and car rentals,” said Husayn Kassai, chief executive and co-founder of Onfido.

“Passwords will become a thing of the past as a method for accessing digital services, as will queuing for hours to vote in person - we’re standardising the way everyone proves their real identity, in a similar way to how Facebook has standardised the way everyone shares their social identity, and LinkedIn has standardised the way everyone signals their professional identity."

The new investment will be used to further invest in machine learning technology, consolidate existing markets, and service demand in new geographies.

Onfido verifies a user’s real identity by analysing their photo ID and then matching it against a selfie video, using artificial intelligence to catch fakes more reliably than is possible by the human eye.

In January, the company acquired a US-based tech company Aviata and partnered with ForgeRock and SecureKey Technologies.

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