Identity tech firm Onfido more than doubles growth
Identity verification provider Onfido is celebrating a quarter-on-quarter revenue growth of 171 per cent and has said it expects further growth in the remainder of the year.
Founded in 2012, the firm uses AI-based technology to assess the authenticity of user’s IDs, allowing them to verify their identity and sign up for services from their smartphone.
Headquartered in London, the firm has recently made several senior appointments in response to the growth, including a new general manager in France, the former director and general manager of PayPal France Gimena Diaz.
Laura Coffey, formerly part of the Prime Minister’s Delivery and Strategy Units under the Blair and Brown administrations respectively, has been appointed as the firm’s director of policy and strategic accounts.
Coffey served as deputy director of digital for the Cabinet Office under the Coalition administration before spending time in UK retail banking where she was part of the team that launched TSB.
Angela O’Connell, the firm’s new VP of marketing, previously spent over 8 years at Google and YouTube heading up marketing for its buyside platform.
The firm said its new strategic partnerships also explain the firm’s growth. As well as its own international partner program, it has also been approved by the Information Commissioner’s Office to test its security sandbox, the Digital ID & Authentication Council of Canada (DIACC), and the Global Financial Innovation Network.
“Our core identity verification business is continuing to meet and exceed the market need for a highly-effective yet low-friction verification service,” said Husayn Kassai, CEO and co-founder of Onfido.
“Equally important is where the market is heading and we continue to be actively engaged with a range of stakeholders who are defining the future of reusable online identities with priority on re-establishing trust and increasing access for all.”