Veriff acquires Estonian KYB firm Vespia to transition from IDV to full trust platform

Veriff has acquired know your business (KYB) provider Vespia, a fellow Estonia-based company, as part of a strategy to expand from digital identity verification to a comprehensive trust platform.

Julia Ront, co-founder of Vespia, was Veriff’s second-ever employee, and helped shape its product and culture in its formative days, according to the announcement. She co-founded Vespia in 2021 along with Anton Vedešin, and now rejoins Veriff, along with the rest of the Vespia team.

Vespia’s KYB technology will be integrated for commercial availability across Veriff’s platform by mid-2026.

“This marks a major milestone for Vespia and the team that built our KYB platform from the ground up,” says Ront, who is also CEO of Vespia. “We proved that business verification can be fast and global. Being part of Veriff, we can now scale that work within a larger, unified trust platform.”

A blog post from Vespia says its end-to-end KYB platform offers global business registry data from more than 300 jurisdictions, shareholder and UBO verification for businesses complex ownership structures, customizable onboarding workflows based on risk profiles and ongoing monitoring. It also notes that businesses increasingly want to source their identity verification, KYC, KYB, AML and monitoring from the same trusted partner.

“KYB has historically been slow, manual, and painful,” says Kaarel Kotkas, founder and CEO of Veriff. “We don’t want to fix it incrementally; we want to fundamentally rethink it. Do it 10 times better than it has been done before – real-time, end-to-end KYB from a single platform built to the same standard our customers expect from Veriff. That’s how KYB will work going forward.”

Veriff reported explosive growth in its authentication volume at the end of last year, and revenue surpassing $100 million.

The financial terms of the deal were not disclosed.

Article Topics

acquisitions  |  digital identity  |  digital trust  |  identity orchestration  |  identity verification  |  KYB  |  Veriff  |  Vespia