Middesk raises USD 57 mln in Series B round

Friday 10 June 2022 13:34 CET | News

Middesk, a US-based identity platform automating business verification and underwriting decisions, has raised USD 57 million in a Series B round.

The round was co-led by private equity and venture capital firm Insight Partners and Canapi Ventures, with additional investments from existing investors Sequoia and Accel, as well as Gaingels. Middesk will use the capital to invest in new and existing products, scale the team, and educate the market about business identity.

Middesk was founded in 2019 to address the downstream effects and resulting challenges of onboarding new business customers. Middesk's infrastructure solution provides the tools, data, and documents needed by banks, insurers, credit card companies, lenders, payment firms, payroll companies, and other service providers to automate onboarding in regulated industries.

Its platform provides data on businesses in the US and automatically notifies service providers of changes to its customer base, enabling them to make informed decisions during and after onboarding. This allows service providers to form an accurate picture of their customers and offer the critical products their customers need to establish, operate, and maintain their businesses. 

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Keywords: funding, identity verification, digital identity, digital onboarding, data
Categories: Fraud & Financial Crime
Companies: Middesk
Countries: United States
This article is part of category

Fraud & Financial Crime


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