Amsterdam-based Ver.iD, an SaaS platform for digital id verification, has introduced the elevating of €2 million in angel funding with the intention to increase forward of the latest eIDAS 2.0 regulation.
Trying forward from this latest funding, the platform is making ready for a brand new €4 million funding spherical to speed up its European development.
“In a time when AI-driven fraud and knowledge breaches dominate the information, Ver.iD permits firms to obtain solely the required buyer knowledge. This ensures privateness whereas making onboarding and verification processes quicker, safer, and extra user-friendly,” says Robert van Altena, co-founder of Ver.iD.
Based in 2022, Ver.iD gives firms and governments with an easy-to-integrate resolution for digital id verification. Totally compliant with present safety requirements, together with ISO27001, NIS2, and DORA, Ver.iD permits customers to find out what info they share whereas making certain a seamless expertise for organisations.
2024’s introduction of eIDAS 2.0, the brand new European regulation for digital id, has elevated the urgency to implement safe and user-friendly options. By 2026, private and non-private organisations, together with banks, vitality suppliers, and insurers, will likely be required to combine digital ID apps into their processes.
Ver.iD is planning to be key participant on this transformation by providing an answer that ensures compliance whereas combating fraud, minimising knowledge breaches, and enhancing the consumer expertise.
Ver.iD has drawn comparisons to Adyen, a fellow Dutch firm that enables companies to simply accept e-commerce, cellular, and point-of-sale funds. Ver.iD says that “Simply as Adyen helps companies combine a number of fee strategies and permits clients to decide on their most well-liked fee technique, Ver.iD presents an analogous service for id apps. The platform permits firms to seamlessly combine ID wallets and digital identification strategies, whereas clients retain the power to pick their most well-liked id app.”
Ver.iD’s platform is already getting used for each experimental (‘change’) and day-to-day (‘run’) operations by main organisations, together with:
- Verbond van Verzekeraars and Nationale Nederlanden: Simplifying processes like automotive insurance coverage functions by digital identification as an alternative of bodily paperwork.
- Municipality of Nijmegen: Optimising digital onboarding and repair supply with the addition of eID performance.
- Compliance sensible: Serving to round 200 accounting corporations adjust to buyer identification laws.
Moreover, pilots are being carried out in collaboration with the Chamber of Commerce to unlock authorisation knowledge for executives by ID wallets.
The platform doesn’t retailer buyer knowledge and offers customers management over the data they share. Every ID app is fastidiously reviewed to satisfy Ver.iD’s excessive requirements, making certain most safety and safety in opposition to knowledge breaches.
A Program Supervisor for Digital Id at one of many central authorities registers commented: “Ver.iD combines safety, ease of use, and scalable integration into one highly effective enterprise resolution. It’s an important associate for companies making ready for the calls for of eIDAS 2.0.”
“We’re pleased with the belief our buyers and shoppers have positioned in us,” says Van Altena. “Our objective is to turn out to be a global market chief and set the usual for digital id in Europe.”