Sumsub, a London, UK-based identification verification platform that gives a technical and felony toolkit to cover KYC/KYB/AML needs, secured $6m in Series A funding.
The round, which introduced the whole capital raised since founding to over $7.5m, was led through financial trading software developer MetaQuotes, with participation from Ilia Perekopsky, VP of Telegram messenger and early investor Flint Capital.
The corporation will use the budget to further product development, extend into new markets and add greater tier-one corporation clients making plans to attain over 500 new SME and SMB clients globally by early 2021.
Founded through 3 Israeli brothers Andrew, Jacob and Peter Sever in 2015, Sumsub offers an AI-powered identification verification and compliance risk management toolkit that automates identification verification and interprets organization’s AML policy into automatic virtual workflows.
The solution, which focuses on improved ID verification, virtual fraud detection and compliance for two hundred+ markets including the UK, North America, Germany, Singapore and Hong Kong, is presently to be had in over two hundred nations and territories, assessing biometrics and 6,500 distinct kinds of identification documents.
The corporation works with more than six hundred clients, and its customers encompass BlaBlaCar, TransferGo, PaySend, Gett, Wheely, VK.com, HRS Group, and lots of others.
