Chilean digital identity startup Soyio announces $1M investment

Chilean privacy and identity infrastructure startup Soyio has received a US$1 million funding round led by the financial group Consorcio.

Soyio offers solutions that can be integrated into existing apps, including passwordless authentication, biometric identity verification and digital signatures. The company plans to use the new investment to develop technology for digital identity validation, personal data protection and customer consent management.

Other investors in the round include Platanus Ventures, Devlabs and 99startups.

The funding round comes as Chile prepares for reforms of the Data Protection Law (DPL), which will come into effect in December 2026. Aside from regulating the processing of personal data, the law will also set up a Personal Data Protection Agency (PDPA) and establish new data privacy rules that bring the country on par with legislation such as the European Data Protection Regulation (GDPR).

According to Consorcio, the investment is part of its strategy to support the growth of startups that modernize the industry and respond to the needs of its clients, Forbes reports. The Santiago-headquartered startup focuses on technology that strengthens personal data protection, digital identity validation and customer consent, all of which will become important for companies complying with the Chilean DPL.

“We are convinced that Soyio offers a disruptive and scalable technological solution that will be very well received, as we all need to have control over our digital identities,” says Álvaro Larraín Prieto, corporate attorney at Consorcio Group.

Article Topics

biometrics  |  Chile  |  digital identity  |  funding  |  investment  |  Soyio  |  startup