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Brazil’s unico plans selfie biometrics expansion in Latin America after raising $100M

Brazil’s unico plans selfie biometrics expansion in Latin America after raising $100M

São Paulo, Brazil-based unico has raised $100 million in a Series D funding round and plans to expand into other countries in Latin America, according to Reuters.

The funding round was led by Goldman Sachs Group Inc, with participation from previous investors SoftBank and General Atlantic, and gives unico a $2.6 billion valuation, according to the report.

The latter two led unico’s previous funding round, when it became the country’s first biometrics unicorn by raising 625 million reals (then just over US$120 million), and its Series B before that, back when the company was called Acesso Digital.

Some of those proceeds went to the subsequent acquisition of SkillHub, which gives unico a presence in the edtech sector.

Unico offers unico check, a selfie biometrics-based digital identity verification solution for banks, retailers and applications, unico people, a workforce management and admissions solution for enterprises, and unico sign e-signature platform.

Legal representation for unico was provided by Foley & Lardner LLP, which notes that Goldman Sachs takes a strategic partnership and seat on unico’s Board of Directors. The law firm further says that unico is now one of Latin America’s largest SaaS companies, and carries out an estimated 25 million digital identity authentication transactions each month.

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