We advised Veriff, a global identity verification service company founded and headquartered in Estonia, in raising USD 69 million, its biggest funding round yet. The investment was led by IVP and Accel and empowers Veriff to meet accelerated global demand for AI-powered, video-first approach to identity verification.
Highest Series B amount raised to date in the IDV market
Veriff is the global online identity verification company that enables organisations to build trust with their customers through intelligent, accurate, and automated online IDV. Founded in 2015, Veriff serves a global portfolio of organisations across fintech, crypto, and mobility sectors. This latest investment brings Veriff’s total secured funding to date to USD 92.8 million. Veriff investors include Y Combinator, Mosaic Ventures, Nordic Ninja, Accel, IVP and others.
“At Veriff, we are building trust and transparency in the online world, and our round marks the highest Series B amount raised to date in the IDV market, putting us one step closer to eliminating widespread identity fraud while helping businesses grow and go digital,” said Kaarel Kotkas, founder and CEO of Veriff. “Veriff is considered a “secret weapon” to fight against fraud and solve the hassle of online identity verification. Now backed by top investors in the world, we look forward to partner up with more companies to solve their identity verification challenges and work towards bringing more trust online.”
With this latest round of funding, Veriff will continue building within the fast-growing market opportunity in the U.S. and deliver on their promise of building a stronger source of identity online than government-issued IDs alone currently provide.
Our services and project team
We supported Veriff in legal matters related to the fundraising process in cooperation with US law firm Orrick. Our project team was led by senior associate Mirell Prosa supported by partner Toomas Prangli, and included associate Vladislav Leiri and others.