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Onfido, the AI-based ID verification platform, raises $100M led by TPG

Posted: 15 April 2020

Contactless transactions have become a major priority at a time when people all around the world are minimising their contact with others outside their households to slow down the often-insidious spread of the novel coronavirus. But if a lot of the consumer focus lately has been on things like payments or deliveries, that’s overlooking the fact that the “contactless” paradigm has been a big trend for years already.

Today, a London-based startup building tools to enable virtual identity verification — that is, a way of verifying you without requiring in-person, face-to-face interactions — is announcing a big round of funding.

Onfido, which uses AI to “read” a person’s identity documents and then uses facial recognition and other datapoints to verify that a person is who she or he says they are online — customers for its tech include major banks, government bodies, and businesses doing recruitment: any organization running parts of its processes virtually — is today announcing that it has raised $100 million.

Read the full article on Techcrunch