8 April 2019
Taylor Wessing has advised global identity verification provider, Onfido, on its latest USD 50 million funding round.
The funding round brings the total investment in the company to over USD 100m, and was led by SBI Investment and Salesforce Ventures, with support from M12 (formerly Microsoft Ventures), FinVC and existing investors.
London-headquartered Onfido will use the money to push ahead with its expansion into Europe and Southeast Asia, as well as consolidating its US market position. It will also accelerate Onfido’s goal of using AI to standardize the way businesses verify identities in a scalable and secure way.
Commenting on the transaction, Angus Miln, Corporate Technology partner said: "Onfido's phenomenal global growth, coupled with its passion for excellence in everything it does, make it a very exciting prospect for the future. Having acted for Onfido for several years now, we are delighted by the company's continued success and look forward to seeing the next chapter. As always, it has been a pleasure to work with Husayn and the executive team on this great deal."
Husayn Kassai, CEO and co-founder of Onfido added: "The team at Taylor Wessing provided excellent partnership and demonstrated a relentless focus on our needs. This enabled us to navigate a range of complex issues to close this important funding round for us with style and speed. Angus and Adam have provided long-term expert strategic advice to us and were integral to achieving the right result, which further validates their position as a leader, guiding firms in the technology space."
The team was led by partner Angus Miln with support from Corporate Technology associate Adam Thatcher.
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