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: Detecting and preventing market abuse

Market abuse – unlawful disclosure of inside information, insider trading, circular trading, “pump and dump” schemes, etc. – poses significant threats to the integrity of capital markets. In 2024, global trading house Trafigura agreed to pay a $55 million fine to the U.S. Commodity Futures Trading Commission (CFTC) for trading with non-public information, manipulating a...

BLOG

ACA Insights from FCA 2024 STORS Report (Insider Dealing Dominates)

In March, the UK Financial Conduct Authority (FCA) published its annual breakdown of suspicious transaction and order reports (STORs) filed during 2024. The headline figure – 4,528 STORs received – reflects continued vigilance in monitoring for potential market abuse. While the volume remains largely consistent with previous years, the detailed breakdown offers valuable insights for...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

MiFID II handbook, third edition – How compliant are you?

Six months after Markets in Financial Instruments Directive II (MiFID II) went live, how compliant is your organisation? If you took a tactical approach to cross the compliance line on January 3, 2018, how are you reviewing and renewing systems to take a more strategic approach and what are the business benefits of doing so?...