FinTech startup OneID, a Stratford-upon-avon-based provider of bank-verified digital identification services, has secured over €19.1 million to drive growth and expand operations and services to reach a growing customer base.
The funding round was led by ACF Investors and more than 200 UK, Swedish, and U.S. Angel Investors.
Paula Sussex, CEO of OneID, says, “At OneID, our goal is to make the world safer by making digital identity verification more efficient and accessible for businesses and users. We’ve had a tremendous year in 2024 across several use cases. With our integration with Adobe set to go live with leading high-street banks in the UK, we are proving our ability to solve urgent business problems against the toughest standard-setters. The funding from ACF Investors is a strong vote of confidence in us as a business, and we look forward to working with the team to supercharge our growth in 2025.”
Founded in 2018 by Robert Kotlarz, OneId is provides digital, real-time identity services that create “absolute certainty” between a business and a customer. Their digital ID services use advanced counter-fraud measures to help protect banks, businesses, and consumers from online identity fraud. Helping businesses reduce operational costs, increase sales, and improve customer engagement by streamlining existing ID processes, including payments, direct debits, onboarding, and more.
As the only UK Identity Service with access to bank-verified data, approximately 50 million UK users are already set up to use OneID for real-time verification. The technology requires no registration process, does not store any personal data, and removes the need for scanning passports or taking selfies to authenticate your identity online.
This approach enables a document-free digital identification process that can be completed within twelve seconds.
According to OneID, the Department of Science and Technology’s proposed Digital ID for age verification and the Online Safety Act of 2023 require more than 100k online service providers to adopt stringent identity and age assurance measures. OneID’s bank-based identity and age verification solution ensures compliance with the Act whilst maintaining user privacy.
The funding follows a period of growth and implementation of the company’s technology with a growing customer base, including NatWest and Adobe. OneID will use the funding to enhance its product offering, expand its operations into new market sectors and deliver its services to new and existing customers.
Tim Mills, Managing Partner at ACF Investors, says, “The Government’s growing focus on digital identity underscores the market’s need for simple and effective identification solutions. OneID is delivering exactly that, enabling both fraud prevention and regulatory compliance for financial institutions. We are delighted to follow on from our initial investment in 2023 and look forward to supporting the team as they grow.”
Read the orginal article: https://www.eu-startups.com/2025/02/oneid-secures-e19-1-million-to-transform-digital-identity-verification/
