Crane leads Series C with support from Microsoft Ventures and current investors
– Businesses such as Square, Zipcar, and Revolut use Onfido’s identity verification to
seamlessly onboard more customers and scale their businesses
– New funding round enables Onfido’s growth in international markets and new
industries, as well as further R&D in machine learning technology
28th September 2017, LONDON and SAN FRANCISCO: Identity verification provider Onfido
today announces $30M in funding, led by Crane Venture Partners with support from Microsoft
Ventures, Salesforce Ventures and other current investors. The funding follows a Series B round
of $25M in April 2016, allowing the company to take its identity verification technology global.
With just a photo of an identity document and a selfie, users can now gain access to a host of
online platforms such as Square, Zipcar, and Revolut. Onfido’s machine learning technology
enables companies to automate checks on over 600 document types across 192 countries,
detecting anomalies automatically, and using human experts to verify outliers. This enables
high-growth companies to rely on Onfido’s identity verification technology as they scale,
seamlessly onboarding more customers while reducing the risk of fraud.
Husayn Kassai, CEO and co-founder of Onfido, stated, “The world is moving online, but the
means to carry out identity verification is frozen in time in an offline world. Millions of people
who don’t have a credit history – or just have a thin one – are unable to access everyday services.
With our identity verification technology, those underserved people can access online services
they need, and businesses can gain access to a whole new group of trusted customers.”
Kassai continued, “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
This latest round brings Onfido’s funding to over $60M to date, including previous investment
from Wellington Partners, Idinvest, and CrunchFund. The new funding will primarily be
channeled into research and development in machine learning technology, and to meet
increasing customer demand in the US and other international markets.
Scott Sage, Partner at Crane, explained, “We invest in companies that have an ‘unfair advantage’
in data. Onfido has proven itself with incredible traction in Europe and strong demand in the US
for its identity verification technology today. Onfido has one of the strongest machine learning
teams we’ve come across from all over Europe, and we’re excited to see how they continue to
combine data, image verification and fraud prevention technologies to enable businesses to
scale efficiently and safely.”
Onfido, headquartered in London, has offices in San Francisco, New York, Lisbon and New Delhi.
Founded in 2012, the identity verification company has grown from 25 to 150 employees in just
over 2 years, while growing revenue 5x annually for the past three years.
“Smartphones are pervasive, powerful tools for accelerating the adoption of identity verification
processes,” said Itxaso del Palacio, investment partner, Microsoft Ventures. “Onfido’s reliable and
scalable intelligent services are helping millions of unbanked people worldwide access financial
services by allowing them to open bank accounts, be verified for a job and more with the touch
of a button. We’re proud to support its efforts with our investment.”
“Salesforce Ventures is committed to investing in technology that extends our intelligent
Customer Success Platform and makes our customers even more successful,” said John
Somorjai, EVP of Corporate Development and Salesforce Ventures, Salesforce. ”As a company
applying machine learning to identity verification, Onfido is a prime example of the amazing
innovation and commitment to customers that we’re seeing in the Salesforce ecosystem.”
Onfido builds trust in an online world by helping businesses digitally verify people’s identities. Using
machine learning technology, Onfido validates a user’s identity document and compares it with their
facial biometrics. The identity can then be cross-referenced against international credit and watchlist
databases. Founded by three entrepreneurs from Oxford University, Onfido has received over $60m in
funding from investors including Microsoft Ventures, Salesforce Ventures and Crane Venture Partners.
Onfido carries out checks in 192 countries for global customers including Zipcar, Couchsurfing, Revolut
Notes to editors:
For further press information or enquiries, please contact Niamh
Crane builds data, enterprise and deep technology companies alongside Europe’s most ambitious founders. Based
in London, Crane’s Partners have invested and scaled businesses across the US, Asia and every major hub in
Europe. Over the last year, Crane has made a dozen investments into European based enterprise startups.
About Microsoft Ventures
Microsoft Ventures is the corporate venture arm of Microsoft, (Nasdaq “MSFT” @microsoft) the leading platform
and productivity company for the mobile-first, cloud-first world. Microsoft Ventures partners with visionary
entrepreneurs looking to drive digital transformation. As part of its promise to portfolio companies, Microsoft
Ventures offers unrivaled access to go-to-market resources and strategic relationships globally. Microsoft Ventures
currently operates in London, New York, San Francisco, Seattle and Tel Aviv. Learn more here.
About Salesforce Ventures
Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally.
Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise
technology that extends the power of the Salesforce Intelligent Customer Success Platform, helping companies
connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the
world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce
Ventures, portfolio companies can also leverage Salesforce’s expertise in corporate philanthropy by joining Pledge
1% to make giving back part of their business model. Salesforce Ventures has invested in more than 200
enterprise cloud startups in 14 different countries since 2009. For more information, please visit
With more than €6 billion under management, Idinvest Partners is a leading pan-European private equity firm
focused on the midmarket segment. Idinvest Partners has developed several complementary areas of expertise
including Venture Capital, Growth Capital and Private Debt investments in unlisted European companies as well
as Primary and Secondary investments in European private equity funds. Founded under the name AGF Private
Equity in 1997, Idinvest Partners was formerly part of Allianz until 2010 when it joined forces with IDI as an
About Wellington Partners
Since the 1990s, Wellington Partners has supported the global ambitions of Europe’s best entrepreneurs in
Technology. Wellington’s pan-European team operates primarily out of offices in London and Munich, as well as a
base in Palo Alto. Wellington Partners has already invested in the companies of more than 100 outstanding
entrepreneurs and has been part of many spectacular successes. Wellington Partners currently have $905 million
under management. For more information, visit www.wellington-partners.com.