FinTech startup OneID has raised over €19.1 million in funding to accelerate its expansion and enhance its bank-verified digital identity services. Based in Stratford-upon-Avon, OneID is on a mission to make online identity verification faster, safer, and more accessible for businesses and individuals. The investment round was led by ACF Investors, with participation from more than 200 angel investors across the UK, Sweden, and the US. This latest capital injection will help OneID scale its operations, refine its technology, and cater to a growing customer base.
OneID’s CEO, Paula Sussex, expressed enthusiasm about the funding, highlighting the company’s success in 2024 and its ambitious roadmap for 2025. She stated that OneID aims to make the world safer by improving digital identity verification and making it more accessible. She also noted that the company had seen significant progress across various use cases and that their upcoming integration with Adobe, set to go live with major UK banks, demonstrates their ability to solve critical business challenges. The investment from ACF Investors, she added, represents a strong vote of confidence in OneID’s potential for growth.
Founded in 2018 by Robert Kotlarz, OneID provides real-time digital identity verification that ensures secure and seamless interactions between businesses and customers. The company eliminates common barriers to digital identification, such as scanning documents or taking selfies, offering a faster and more reliable alternative. OneID’s bank-verified identity services utilize counter-fraud measures to protect banks, businesses, and consumers from identity theft and fraud. The technology is designed to help businesses reduce operational costs, improve customer engagement, and streamline payment authentication, direct debits, and user onboarding.
As the only UK identity service with direct access to bank-verified data, OneID provides a solution that approximately 50 million UK users can already access for real-time verification. Unlike traditional identity verification methods, OneID’s system does not require users to register, store personal data, or provide additional documentation, making it one of the most privacy-focused solutions in the industry. The company’s document-free digital verification process can be completed in just 12 seconds, delivering a seamless user experience for both businesses and customers.
With increasing regulatory requirements around digital identity, OneID is well-positioned to support businesses in meeting compliance standards. The UK’s Department of Science and Technology has proposed new digital ID regulations for age verification, and the Online Safety Act of 2023 mandates that over 100,000 online service providers implement stricter identity and age assurance measures. OneID’s bank-based identity and age verification solutions ensure compliance with these new regulations while maintaining user privacy.
The company is already working with major players like NatWest and Adobe, demonstrating the versatility and effectiveness of its technology across various industries. With this new funding, OneID plans to expand its operations into new sectors and enhance its service offerings to better serve both new and existing customers.
As digital fraud and cyber threats continue to rise, OneID’s approach to identity verification is becoming increasingly crucial. Businesses seeking to protect users while complying with new regulations will need efficient and secure identity verification solutions, and OneID is positioning itself as a leader in this space. The funding round signals strong investor confidence in the company’s growth potential and its ability to redefine how digital identity verification is conducted. As OneID expands its reach and refines its technology, it is well on its way to becoming a major force in the digital identity landscape.
