Digital identity is a crowded marketplace, but Veriff believes its AI tech sets it apart.
In late January 2022, Estonia gained its sixth tech unicorn after identity verification startup Veriff raised $100 million in Series C funding
Veriff is an AI-assisted identity verification and know your customer (KYC) platform used by companies around the world to ensure their customers are who they claim to be.
Most of the company’s biggest customers are in global fintech, where it faces competition from the likes of authentication and verification services Jumio and Fido.
Today, Veriff is valued at $1.5 billion, joining the ranks of Skype, Playtech, Wise, Pipedrive and Bolt in Estonia’s ever-growing lineup of tech startup darlings.
“It’s great that it’s done, but we cannot rest on our laurels,” Veriff founder and CEO, Kaarel Kotkas, tells ZDNet. “We have a lot of work ahead.”
Kotkas is only 27, but his interest in tech and entrepreneurial tendencies stretches back more than a decade.
He began experimenting with web and verification technologies while still in high school, eventually capturing the attention of billion-dollar fintech company