Amsterdam startup Ver.iD raises $2M for European expansion

Digital identity verification company Ver.iD has raised 2 million euros (US$2.05 million) in angel funding as it prepares to kick off a 4 million euro ($4.1 million) funding round to boost its growth in Europe.

Founded in 2022, the Amsterdam-headquartered startup offers identity verification, secure credential management and e-signatures. Its Ver.iD Login service is available as an extension to platforms such as Ping Identity, Auth0 by Okta and Microsoft Azure AD.

The company’s products are currently being used by the Dutch Association of Insurers (Verbond van Verzekeraars and Nationale Nederlanden) for digital car insurance applications and the city of Nijmegen for digital onboarding and services. The startup also serves around 200 accounting firms and is conducting a digital ID wallet pilot with the Dutch Chamber of Commerce.

Ver.iD’s co-founder Robert van Altena, however, says that the company has bigger plans. With the arrival of the European Digital Identity (EUDI) Wallet, more organizations will be required to introduce digital IDs by 2026.

“Our goal is to become an international market leader and set the standard for digital identity in Europe,” van Altena says.

The company’s products are compliant with ISO27001, NIS2, and DORA. Ver.iD was also recently named a Rising Star by the analyst research agency KuppingerCole, a title reserved for the next generation of innovative companies in the identity and cybersecurity sector.

Article Topics

biometrics  |  digital identity  |  electronic-signature  |  Europe  |  funding  |  identity verification  |  investment  |  Ver.iD