OneID Secures £16M to Enhance Digital Identification Solutions
In a digital age where identity verification can often feel cumbersome, One ID is revolutionizing the landscape. Recently, this innovative London-based company secured £16M in funding, spearheaded by ACF Investors, showcasing the growing confidence of investors in the power of bank-verified digital identification services. With contributions from over 200 angel investors spanning the UK, Sweden, and the US, OneID is positioned for rapid growth, encouraging startup founders to take note of its impactful solutions in customer verification.
Under the leadership of CEO Paula Sussex, OneID is redefining how businesses handle customer identity.
Their platform leverages bank-verified data to create a seamless, document-free identification process that can be accomplished in a mere twelve seconds. This not only enhances the customer experience but also addresses pivotal concerns such as privacy and data security. By requiring explicit consent for the sharing of personal data, OneID fosters trust while enabling businesses to streamline their onboarding process and reduce the risks associated with fraud.
With the recent influx of funding, OneID plans to accelerate its operational expansion and broaden its service offerings, directly targeting a growing customer base. The company is committed to helping businesses not only reduce operational costs but also increase sales and improve engagement through streamlined ID processes—ranging from payments to direct debits. By focusing on essential aspects of business growth, OneID stands as a compelling opportunity for investors looking to support innovative solutions that address core challenges in today's market.
Key Terms Explained
- Identity Verification
- A process used to verify the digital identity of a person, often through the use of computer technology. This can include verifying a person's name, address, and other personal information against a database or other reliable sources.
- Privacy and Data Security
- These refer to measures taken to protect sensitive personal information from unauthorized access, use, disclosure, disruption, modification, inspection, recording or destruction. It's a critical aspect in the digital world especially when handling user data.
- Investment/Funding
- Generally, it refers to the act of providing financial resources, in the form of money or other forms of value, to finance a need, program, and project, usually by an organization or company. In the startup context, this funding is provided by investors or venture capitalists.
They've invested in OneID
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