Onfido

An AI-powered identity verification technology company

Categories

Technology  
Summary

Onfido is a technology company that helps businesses verify people's identities using a photo-based identity document, a selfie and artificial intelligence algorithms. This is how they help companies like Revolut, Zipcar and Bitstamp to onboard customers remotely and securely. Onfido was founded in July 2012 by three former students at Oxford University- Husayn Kassai, Eamon Jubbawy, and Ruhul Amin. Onfido is headquartered in London and has over 650 employees in offices in San Francisco, Albuquerque, New York, Lisbon, Paris, Berlin, Amsterdam, Delhi, Mumbai, Bangalore and Singapore.


History

Husayn Kassai, Eamon Jubbawy, and Ruhul Amin first met when they were students at Oxford University. Kassai met Jubbawy when they co-ran the university's Oxford Entrepreneurs society. At one point, the three entered discussions of forming a new company after they had identified the inefficient process of getting identity checks completed in order to secure jobs in the finance industry. Each went through a check that took from 2–6 weeks. The idea of Onfido came about to solve the inefficient process of identity checks. They wanted to create a solution that set a new standard by moving away from manual checks to a technological solution based on machine learning. The idea was built with four key aims: to help more people gain access to digital services, to protect businesses from fraud, to create a better user experience, and to uphold user privacy. They decided to build a technological solution to the problem and secured seed funding of £20,000 from Oxford University's Said Business School, launching Onfido in August 2012. The three secured initial deals with around 10 small companies. In January 2013, Onfido secured its first major client, Hassle.com. In February 2015, Onfido raised $4.5 million from a Series A funding round to help expand the business. By April 2016 it had done almost ten million identity and background checks. The most recent funding round in April 2020 raised $100 million from TPG Growth. While initially focused on doing identity and background checks for businesses hiring large numbers of permanent staff and contractors, by September 2016 it had shifted its focus to financial services and e-commerce companies. Onfido helps them to do this without onerous identity verifications. The company also wants to help get people who don't currently have bank accounts into the banking system.


Mission

Their mission is to create a more open world, where identity is the key to access.


Vision

Onfido verifies the world’s identities. They build AI that compares IDs to facial biometrics and businesses onboard more customers. Their vision is “an open world where identity is the key to access”.


Recognition and Awards
2015: Received an award at the inaugural TechCities Awards in the Thames Valley category. 2016: Made the FinTech50 list of companies. 2016: Kassai, Jubbawy, and Amin appeared on Forbes’ annual 30 under 30 list of top young leaders across 20 industries. 2018: Kassai was named to the Financial Times’ list of the 'Top 100 minority ethnic leaders in technology’. 2019: Onfido was awarded the Frost & Sullivan 2019 Technology Award for its advanced hybrid identity verification solution. 2019: Won the Barclays “Most Innovative Use of Technology” supplier award. 2019: Onfido was appointed to CB Insights AI 100. 2019: Voted 1st (out of 2,000 companies) in the FinTech 50. 2019: Ranked 8th fastest growing private company in the UK in the 2019 Sunday Times Tech Track 100. 2020: Won the InfoSec Award for Best Next Gen Fraud Prevention Product at RSA Conference.

References
Onfido
Leadership team

Mike Tuchen (Chief Executive Officer)

Ruhul Amin (Co-Founder)

Eamon Jubbawy (Co-Founder)

Industries

Technology

Products/ Services
Identity Verification, AI-powered workflow solutions
Number of Employees
500 - 1000
Headquarters
London, United Kingdom
Established
2012
Company Registration
SEC CIK #0001810008
Revenue
20M - 100M
Social Media

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Wed Feb 28 2024
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