The round was led by Inspire Investments with confidence shared by Act Venture Capital, which led the EUR 1 million funding round the start-up raised in 2020.
ID-Pal provides businesses in Ireland, the UK, the US and Europe with remote identity and address verification using biometric, facial matching, liveness testing, address verification and document checks. It aims to help businesses simplify anti-money laundering (AML) and know your customer compliance.
The Irish company launched in the UK in May 2022 and had as a purpose fraud prevention for companies, the startup covering more than 6,000 ID documents across 200 countries and jurisdictions. ID-Pal officials state that its tech is also GDPR compliant and can be configured for any jurisdiction or legal requirement in any language.
ID-Pal is a software-as-a-service (SaaS) company that helps businesses ensure compliance with regulatory identity requirements such as anti-money laundering (AML) and know your customer (KYC). The company's platform verifies customer identities in real-time via a number of means, including document verification and facial recognition.
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