Veridas raises $4.7M, plans face and voice biometrics business expansion in Latin America
Veridas is receiving a capital increase of €4 million (US$4.7 million) from BBVA and das-Nano, which created the company as a joint venture in 2017, to continue increasing its commercial presence in Europe and Latin America, along with its customer support services.
The company also plans to use the funds to boost its equipment and technological capabilities to maintain its market position.
Veridas has grown rapidly since then, according to the announcement, and now performs millions of cloud-based identity verifications with its document verification, face and voice biometrics.
“The capital increase is a sign of trust in Veridas from the two partners and a reinforced commitment to the team, the technology, and the company’s vision of becoming one of the world’s leading players in biometrics and digital identity verification,” states Veridas CEO and Co-founder Eduardo Azanza.
The company’s customer base is growing in Europe and America among financial services, insurance, telecommunications, transport, and public administration companies. The announcement also touts Veridas’ performance in NIST testing, and its second place finish in the Short-duration Speaker Verification Challenge (SdSV) competition this year.
“Veridas has established itself in a short time as a first-rate technology provider in biometric recognition,” BBVA Spain Director of Business Development Gonzalo Rodríguez comments. “Thanks to this alliance, BBVA was the first institution in Spain to allow an account to be opened in a completely digital way just by taking a selfie.”