OneID raises £16 million

UK digital verification service OneID has secured new funding amid a rise of interest in digital identity among the country’s lawmakers.

The latest funding round was led by ACF Investors. OneID says it has raised over £16 million (US$20.1 million) from more than 200 British, Swedish and U.S. angel investors.

The financing comes following the company’s deals with Adobe and NatWest. Last year, NatWest adopted identity verification from OneID for its Structured Finance business in Sweden, Finland, and Norway. OneID has also been gaining popularity among small and medium-sized enterprises (SMEs) because they are susceptible to fraud, according to Paula Sussex, OneID CEO.

“We’ve had a tremendous year in 2024 across several use cases,” says Sussex. “With our integration with Adobe set to go live with leading high-street banks in the UK, we are proving our ability to solve urgent business problems against the toughest standard-setters.”

The platform plans to use the new funding to enhance its product offering, expand its operations into new markets and deliver its services to new and existing customers, the firm said in a press release.

OneID allows users to share bank-verified identity data digitally without scanning and uploading sensitive documents. The company is compliant with the Online Safety Act of 2023 and is registered as an identity service and orchestration service provider under the UK Digital Identity and Attributes Trust Framework (DIATF).

The financing news also comes amid new moves from the UK government towards digital IDs. British lawmakers are arguing that some ID is “inevitable”. The country has introduced the DIATF framework and certifications and is currently deliberating on the Data (Use and Access) Bill, focused on identity verification services.

Article Topics

biometrics  |  digital identity  |  funding  |  identity verification  |  investment  |  OneID