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ID-Buddy secures £6M in Collection A investment spherical because it continues to scale at tempo

ID-Buddy, the worldwide id verification supplier, nowadays introduced a £6 million Collection A investment spherical...

ID-Buddy, the worldwide id verification supplier, nowadays introduced a £6 million Collection A investment spherical to additional gasoline growth into global markets.

The spherical was once led through Encourage Investments with self belief shared through Act Undertaking Capital who’ve now participated in ID-Buddy’s closing two rounds. Encourage Investments is led through Derek Delaney, CEO of Waystone, and is the non-public preserving corporate for the control of Waystone.

This new wave of investment will permit the Dublin-based id verification corporate to additional scale its world gross sales and advertising efforts to satisfy the rising call for for the answer following its reputable UK release previous this yr.

ID-Buddy’s Collection A comes off the again of a vital length of enlargement with each worker and buyer rely doubling over the last one year. The corporate has completed vital luck the world over in each the SME and endeavor house. Consumers come with One4all, Zurich, Elavon, Trident Consider, BDO, American Nationwide College, and the new J.P. Morgan-acquired International Stocks. In conjunction with a bunch of strategic partnerships with market-leaders like HID International, RiskScreen, Sherpa Applied sciences, Temenos and Vesta, ID-Buddy’s investment additional seals its recognition as probably the most main id verification suppliers running out there.

As the will for id verification expands throughout jurisdictions and industries, ID-Buddy is uniquely situated to lend a hand any trade simplify anti-money laundering (AML) and Know your Buyer (KYC) compliance, fixing a important problem that has lengthy been a pricey, inefficient, and guide procedure.

ID-Buddy offers companies a easy, safe, and handy means to ensure the id and deal with of shoppers. The ISO 27001 qualified resolution plays record verification, facial matching, liveness checking out and deal with e-verification in real-time. It gives industry-leading accuracy with Common Knowledge Coverage Law (GDPR) compliance in-built, all whilst turning in a continuing enjoy for the top consumer.

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Colum Lyons, CEO and Founding father of ID-Buddy, feedback: “Elevating €7 million in Collection A investment is a milestone fulfillment for our corporate and a testomony to the product the crew has constructed. ID-Buddy known a transparent hole out there in 2016 that conventional suppliers weren’t serving. We designed an answer that brings agility, comfort, and compliance to companies of any dimension. Whether or not you might be an SME or endeavor shopper, our world protection and seamless consumer enjoy sticks out from what different suppliers be offering.

The religion in our product proven through Encourage Investments and long-time champions of ID-Buddy, Act Undertaking Capital, alerts their self belief within the trajectory that we’re on.”

On making an investment, Derek Delaney of Encourage Investments stated: “I first noticed the chance in early 2019 and what struck me then was once the power of the CEO and the calibre of the preliminary crew.

We imagine a excellent product is secondary to management, however around the first seeding spherical we noticed the product move from power to power and by the point the 3rd spherical got here the power of the product, control and purchasers have been all on a par.

As such, the 5 Waystone control who’ve been invested in ID-Buddy throughout a couple of rounds felt lets with a bit of luck provide the whole Collection A to our colleagues. One thing we’ve got by no means carried out and would now not with out this stage of walk in the park. 35 colleagues subscribed and those are all individuals who perceive the AML/KYC global. We stay up for seeing Colum lead this fantastic adventure”.

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With exponential adoption of the ID-Buddy resolution each in the United Kingdom and the world over and the worldwide possibility of id fraud, last the Collection A investment spherical lets in the corporate to proceed to make bigger into new markets and empower extra companies with easy, safe, and handy id verification.