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Fully-Verified closes funding round to expand biometric verification in Europe, KYC offerings

Fully-Verified closes funding round to expand biometric verification in Europe, KYC offerings
 

Estonia and Poland-based company Fully-Verified has announced a new funding round by Fernando Herrera, Risto Valtakari, Dariusz Dwornikowski, Samuli Koski-Lammi, the Pomerangels VC fund and the Invento Capital VC fund.

While the value of the financing has not been disclosed, the company said it intends to use the fresh funds to expand the features and capabilities of its selfie biometric identity verification solutions and to further grow the team.

“The new investment will be used to further accelerate the company’s growth in Europe and bring new know-your-customer (KYC) solutions to the market. All aimed at making sure businesses can onboard users quicker, easier, and at better cost,” Fully-Verified CEO Lukasz Kwiatkowski tells Biometric Update.

“We would like to thank current and past investors such as Startup Wise Guys for their trust and professional support.”

From a technical standpoint, the Fully-Verified platform provides automated identity verification solutions to tackle different types of fraud in ecommerce businesses, including deepfakes, spoofing using high-resolution videos, impostors, doppelgangers, using 2D paper photos and digital images.

The KYC service is designed for deployment across a variety of applications, including fintech, crypto, and payments.

The platform features automated document recognition and validation technology, facial recognition, machine learning, artificial intelligence, and sanctions and politically exposed person (PEP) checks. It also offers the option of relying on Fully-Verified’s trained verification specialists.

The new investment builds on a 2020 one when the company said it had raised capital to further grow its business and deliver KYC and biometric identity verification services to businesses looking to move their operations online. Even on that occasion, the amount of the financing was not disclosed.

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