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: Innovation in architecture: how to develop optimal, high performance trading

Cloud, predictive analytics, sophisticated algorithms, artificial intelligence and other high performance technologies are gaining traction, innovating trading architecture and delivering market advantage to early adopters. Their potential is phenomenal, but they do come with challenges around integration with existing systems and trading data. They must also be implemented in compliance with trading requirements of regulations...

BLOG

Sumsub and ComplyAdvantage Deepen AML Screening Partnership as Compliance Demands Rise

ComplyAdvantage and Sumsub have partnered to tighten AML screening by combining Sumsub’s verification and monitoring environment with ComplyAdvantage’s Mesh intelligence layer. The result is a more integrated compliance workflow that brings together customer and business verification and screening within a single platform. For Sumsub users, the partnership adds ComplyAdvantage’s screening intelligence directly into existing workflows,...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Corporate Actions 2009 Edition

Rather than detracting attention away from corporate actions automation projects, the financial crisis appears to have accentuated the importance of the vital nature of this data. Financial institutions are more aware than ever before of the impact that inaccurate corporate actions data has on their bottom lines as a result of the increased focus on...