Tu Identidad raises $600K to grow KYC platform with fingerprint and voice biometrics
KYC platform Tu Identidad has raised $600,000 to continue the development of its portable, user-owned, standardized digital multi-biometric ID credential relevant to the majority of Mexico’s people and businesses.
The investment was led by Dark Horse Ventures and Finnovista, and will also be used to add new features and services to the platform and fuel the company’s international expansion.
Tu Identidad’s mobile device-based solution provides identity document verification and prevents fraud and identity theft with voice and fingerprint biometrics. The technology streamlines processes like employee or customer onboarding and routine identity verifications, according to the announcement.
“We are very proud about our innovative solution and we are strongly convinced that we will be able to change the paradigm to identify a person. This important milestone will help us to make our dream come true. Our team knows the problem very well from the trenches since it has dealt directly with the current existing friction and constraints the regulation poses on the customers and institutions,” comments Tu Identidad CEO Ricardo Robledo.
“ID-verification-as-a-service represents a very attractive opportunity for Mexico and Latin America, regions where regulatory-driven requirements have led to expensive and inefficient business processes,” says Dark Horse Ventures Founding Partner Nicholas Broz. “Tu Identidad resolves a real problem faced by Mexican individuals and businesses, offering a safe, streamlined solution to identity proofing and regulatory identification, as well as preventing identity fraud.”
The Tu Identidad platform is available for Android and iOS, with a desktop version coming soon.
Veridium signed up several customers for its KYC services in Mexico’s growing market last year.