Onfido secures £79.9m Series D investment led by TPG Growth
TPG Growth led the Series D financing to help the company scale its identity verification platform.
Onfido provides digital identity verification and authentication services using artificial intelligence to match photo identification with facial biometrics. The company helps global businesses securely grant user access while mitigating fraud.
Onfido has secured £79.9m in Series D funding to expand its artificial intelligence capabilities and scale operations globally. TPG Growth led the investment round, which supports the firm as it experiences heightened demand for digital access and remote identity verification during the coronavirus pandemic. The fresh capital will be deployed to advance machine learning technology, strengthen existing markets, and drive international expansion.
The business has reported strong momentum alongside new client acquisitions and recent corporate development activity, including the acquisition of Aviata earlier in the year. The platform addresses mounting challenges around identity fraud and the limitations of legacy credit bureau systems by offering an open standard for digital identification.
From the founder
"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,"
Husayn Kassai
CEO at Onfido
Use of funds
- 01Fund research and development
- 02Expand into international markets