About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

ID-Pal Secures €7 Million in Series A funding Round

Subscribe to our newsletter

Dublin-based identity verification provider ID-Pal has raised €7 million (£6 million) in a Series A funding round to fuel its expansion into international markets. ID-Pal offers global identity verification coverage of more than 6,000 identity documents and 200 verified address data sources to enterprise clients and SMEs across 200 countries and jurisdictions.

The funding will allow the company to further scale its global sales and marketing efforts to meet the growing demand for the solution following its official UK launch earlier this year. The Series A comes off the back of a significant period of growth with both employee and customer count doubling over the past 12 months.  Customers include One4all, Zurich, Elavon, Trident Trust, BDO, American National University, and the recent J.P. Morgan-acquired Global Shares. The company also has strategic partnerships with market-leaders like HID Global, RiskScreen, Sherpa Technologies, Temenos and Vesta.

The round was led by Inspire Investments with confidence shared by Act Venture Capital, which has also participated in ID-Pal’s last two rounds. Inspire Investments is led by Derek Delaney, CEO of Waystone, and is the private holding company for the management of Waystone.

ID-Pal’s verification facility available out-of-the-box, as an API/SDK and as a Salesforce AppExchange integration – helps firms simplify anti-money laundering (AML) and Know your Customer (KYC) compliance, solving a critical challenge that has long been a costly, inefficient, and manual process. ID-Pal gives businesses a simple, secure, and convenient way to verify the identity and address of customers. The ISO 27001 certified solution performs document verification, facial matching, liveness testing and address e-verification in real time and with General Data Protection Regulation (GDPR) compliance built in.

According to Colum Lyons, CEO and Founder of ID-Pal, “Raising €7 million in Series A funding is a milestone achievement for our company and a testament to the product the team has built. ID-Pal identified a clear gap in the market in 2016 that traditional providers were not serving. We designed a solution that brings agility, convenience, and compliance to businesses of any size. Whether you are an SME or enterprise client, our global coverage and seamless user experience stands out from what other providers offer.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Solving the operations talent crisis

With financial services in the grip of the Great Resignation, operations – a function which has always found recruitment and retention of talent difficult – is facing challenging times. Business growth is a must, but with scaling comes the cost and complexity of additional headcount. How can you ensure that these constraints don’t hold your...

BLOG

Financial Crime is a Decision-Speed Problem: Rethinking AI in AML and Compliance Controls

Financial crime compliance is often described as a resourcing challenge. Firms speak of analyst backlogs, alert volumes and the rising cost of surveillance and screening. Kieran Holland, Solutions Engineering Team Leader at Innovative Systems’ FinScan, argues that the underlying constraint has shifted. Financial crime has become a decision-speed problem. “The fight against financial crime is...

EVENT

TEST Event page 2

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Impact of Derivatives on Reference Data Management

They may be complex and burdened with a bad reputation at the moment, but derivatives are here to stay. Although Bank for International Settlements figures indicate that derivatives trading is down for the first time in 10 years, the asset class has been strongly defended by the banking and brokerage community over the last few...