USD 8.3 mln raised by for biometrics and ID checks

Monday 29 June 2020 12:06 CET | News

During the pandemic, digital identity verification company has raised new capital worth some USD 8.3 million, out of a USD 12.5 million equity offering joined by 32 investors.

The company did not reveal future plans or comment on the new capital raised, Biometric Update reports. suggested that once with social distancing measures going into effect, there has been a surge in demand for digital identity verification. The reason for this is that business processes that were traditionally performed in-person have now shifted online. 

Ensuring identity proofing and authentication, claims to sign up 60,000 new users a day, estimating a total of 24 million users of its digital wallet ‘from buying cars and electronics online to accessing healthcare and government benefit programmes’. 

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Keywords:, selfie biometrics, ID checks, equity, funds, capital raised, digital identity verification, online payments, identity proofing, authentication, digital wallet, COVID-19, pandemic, coronavirus
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime