Sumsub

Sumsub is a global verification platform founded in 2015. It provides solutions for identity and business verification, continuous monitoring, and AI-driven risk analysis, helping businesses comply with global regulations. The platform supports over 14,000 document types in more than 50 languages, enabling seamless global onboarding regardless of location, regulation, or language. Sumsub’s mission is to build a secure, inclusive digital future, making the verification process easier and more accessible for everyone.

The company started as a tool for detecting manipulated graphics but quickly pivoted to become a KYC (Know Your Customer) solution provider, expanding its offerings to a full-cycle verification platform. By 2021, Sumsub had grown rapidly, acquiring over 600 customers and securing key clients like BlaBlaCar, Gett, and Hyundai. The company continued expanding globally, with offices in cities such as Miami, Singapore, and Dubai, and a workforce of over 500 employees.

In 2022, Sumsub faced challenges, including geopolitical tensions that led to the relocation of its team from Russia and Ukraine. Despite this, the company’s revenue nearly doubled, and it raised a Series B round to support its future growth. By 2023, Sumsub had introduced new solutions like its Travel Rule and Deepfake Detector, keeping pace with emerging threats in the AI-driven world.

Sumsub's platform is recognised for its ability to scale globally while ensuring compliance and security. The company has earned numerous industry awards, including “Best KYC Solution” and “Global Verification Platform of the Year.” Sumsub continues to innovate, focusing on Reusable Identity solutions, further fraud prevention, and enhancing onboarding processes, ensuring a secure digital experience for users and businesses alike.

Currently, Sumsub partners with over 4,000 companies worldwide, offering support through dedicated success managers, compliance experts, and technical support.

Sumsub was founded in 2015 by four individuals: Andrew Sever, a physicist by training; his twin brothers, Peter and Jacob, who were creative professionals in animation and computer graphics; and Vyacheslav, a solution architect with a PhD in computer science. The company originated in London, and its initial focus was on providing solutions for fraud prevention by detecting manipulated graphics, a project the team had been working on since 2012. This project did not take off as a business, but the team gained valuable insights into the technology needed to prevent fraud and image manipulation, which later contributed to the company's future success.

In 2015, the founders launched Sumsub, initially named “Sum and Substance,” with the aim of providing identity verification solutions. Their first customers came primarily from Russia and the CIS region, where online businesses were rapidly growing. The platform began by offering onboarding solutions for online businesses, helping them verify the identities of their customers to meet regulatory requirements. The company quickly saw the potential for growth, especially in industries that required rapid customer onboarding, like the cryptocurrency sector.

In 2017, Sumsub seized an opportunity during the ICO boom and began offering compliance solutions to crypto businesses, which enabled them to verify customers in line with the regulatory standards of various jurisdictions. This move helped Sumsub refine its technology, and by 2018, it had established itself as a reliable solution for the cryptocurrency and fintech industries. Companies such as BlaBlaCar, Gett, and Hyundai became some of the first major clients.

In 2019, Sumsub secured its Series A funding round, led by MetaQuotes Corporation, and expanded its focus to offer not just KYC (Know Your Customer) solutions but a complete suite of verification and compliance tools, including KYB (Know Your Business) services. The company’s team also grew, with an R&D centre established in Berlin to attract tech talent. By the end of 2021, Sumsub’s revenue was primarily coming from outside the CIS region, marking its transformation into a global player. This growth was due to the product’s ability to cater to different industries, from transportation to classifieds, and meet compliance needs across borders.

The year 2022 presented several challenges. With the outbreak of the Russian invasion of Ukraine, Sumsub ceased its Russian operations, and many of its employees from Ukraine and Belarus were relocated. Despite these setbacks, Sumsub continued to expand its product offering, evolving from a document verification service to a comprehensive onboarding orchestration platform. The company introduced new solutions for transaction monitoring, fraud prevention, and risk analysis, which helped it stay competitive in a rapidly changing market.

In 2023, Sumsub’s efforts to expand further into international markets paid off. It opened offices in Miami, Singapore, and Dubai, growing its global presence. The company’s revenue grew by nearly 50% that year, and by 2024, it had more than doubled. Sumsub launched several new features, including a Travel Rule solution for the cryptocurrency sector and a Deepfake Detector to combat emerging AI-driven threats. These innovations solidified Sumsub’s position as a leading global verification platform.

Sumsub’s continued success was recognised in 2024 when it was named a Leader in Gartner’s Magic Quadrant for Identity Verification. This accolade highlighted the company’s technological excellence and ability to provide secure and scalable verification solutions. The company also received multiple industry awards, including “Best KYC Solution” and “Global Verification Platform of the Year,” further cementing its reputation as a leader in the identity verification space.

As of 2025, Sumsub remains committed to expanding its platform, with a strong focus on Reusable Identity solutions, enhancing its fraud prevention capabilities, and improving its transaction monitoring services. 

Sumsub works with over 4,000 clients worldwide, providing them with scalable, secure, and compliant solutions for identity verification, onboarding, and fraud prevention. The company continues to innovate, with ongoing developments aimed at making the digital world safer, more inclusive, and accessible for all users and businesses.

Sumsub’s mission is to build a secure, inclusive, and accessible digital future for everyone. They aim to provide businesses with a reliable and scalable platform for identity verification, onboarding, and fraud prevention, ensuring compliance with global regulations. By offering AI-driven solutions, Sumsub strives to simplify and improve the verification process, making it seamless for users across different regions, industries, and languages. The company is committed to creating a frictionless experience that promotes trust, security, and growth in the digital economy.

Sumsub’s vision is to shape the future of identity by creating an inclusive, secure, and paperless digital world. They aim to revolutionise identity verification with reusable solutions, reducing friction for businesses and users alike. By embracing emerging technologies like AI, Sumsub strives to outsmart fraud and drive the evolution of compliance. Their vision focuses on making digital transactions faster, more secure, and accessible to everyone, regardless of location or language. The company is dedicated to fostering a safer and more trustworthy digital economy, empowering businesses to scale globally while meeting regulatory demands.

Sumsub has received numerous awards for its innovation and excellence in identity verification and compliance. Notable recognitions include the "Best KYC Solution" and "Global Verification Platform of the Year" awards, highlighting its leadership in the industry. The company was also named a Leader in the Gartner Magic Quadrant for Identity Verification in 2024, further solidifying its reputation. Additional accolades include the "RegTech of the Year" at the US FinTech Awards and "Best Client Lifecycle Management Solution" at the Regulation Asia Awards for Excellence, underscoring Sumsub’s role in shaping the future of secure digital onboarding.

Sumsub offers a comprehensive suite of products and services aimed at simplifying identity verification, onboarding, and compliance for businesses across various industries. The company’s solutions are powered by AI and machine learning, providing a scalable, secure, and flexible platform that adapts to different regulations, market demands, and user needs. Here is a detailed overview of their main products and services:

Identity Verification (IDV): Sumsub’s core product is its identity verification solution, which helps businesses verify the identity of their customers quickly and securely. The platform supports over 14,000 document types in more than 50 languages, ensuring a seamless verification process for users worldwide. The system uses AI-driven technology to analyse documents, facial biometrics, and other data to confirm a person’s identity. Whether it’s a passport, driving licence, or national ID card, Sumsub’s platform accurately checks for authenticity and matches documents with user-provided images. This service helps businesses comply with Know Your Customer (KYC) regulations while providing users with a smooth onboarding experience.

Business Verification (KYB): Sumsub also offers business verification services, known as Know Your Business (KYB). This solution is designed for companies that need to verify the legitimacy of their corporate clients. It helps businesses confirm important details about their clients, such as their corporate structure, ownership, and financial health, ensuring they are meeting compliance requirements and mitigating risks. Sumsub’s KYB services are essential for industries like banking, fintech, and e-commerce, where verifying business entities is crucial for preventing fraud and adhering to regulatory guidelines.

Continuous Monitoring: Sumsub provides continuous monitoring of user identities and activities to detect potential risks or fraudulent behaviour over time. This ongoing monitoring helps businesses stay compliant with regulations that require them to regularly check their customers’ information. It uses AI-powered algorithms to identify suspicious activities, such as unusual login patterns or changes in user information, alerting businesses to potential threats. Continuous monitoring is crucial for industries like finance and crypto, where customer data and transaction integrity must be regularly validated.

Non-Document Verification: As part of its ongoing innovation, Sumsub has developed Non-Document Verification (NDV) solutions. This feature allows businesses to verify user identities without requiring physical documents, making the process faster and more convenient. NDV leverages technologies such as biometrics (face recognition) and behavioural analysis to confirm a person’s identity. This solution is ideal for scenarios where users may not have easy access to official documents or where the business aims to offer a quicker, more user-friendly experience. It’s particularly useful in high-volume industries such as online gaming and crypto, where user verification needs to be both swift and secure.

Transaction Monitoring: Sumsub’s transaction monitoring solution helps businesses track and analyse their users’ transactions to detect potential money laundering, fraud, and other illicit activities. This service is critical for industries like banking, fintech, and crypto, where regulations require companies to monitor transactions in real-time and flag any suspicious activities. The platform uses AI-driven technology to examine transaction patterns, enabling businesses to identify and respond to risks promptly. It ensures that companies remain compliant with anti-money laundering (AML) regulations and provides a proactive approach to fraud prevention.

AI-Powered Risk Analysis: Sumsub’s platform includes AI-driven risk analysis that evaluates the risk level of users during the verification process. This feature helps businesses assess whether a user is likely to pose a risk based on their identity and activity patterns. The AI algorithm analyses various data points, including the user’s document authenticity, IP address, and transaction history, to assign a risk score. This score helps businesses make informed decisions about whether to approve, reject, or flag a user for further review.

Fraud Prevention Solutions: Fraud prevention is a key focus for Sumsub. The company provides advanced fraud detection tools, including its Deepfake Detector, which uses AI to detect manipulated photos, videos, or documents. As fraud becomes increasingly sophisticated, Sumsub’s solutions are designed to keep up with emerging threats. The platform helps businesses identify fraudulent activities and protect themselves from losses due to identity theft, fake documents, and other forms of online fraud.

E-Signing Solutions: To streamline business operations, Sumsub also offers e-signing solutions that enable businesses to collect legally binding electronic signatures. This service is particularly beneficial for contracts, agreements, and other legal documents that require customer signatures. The e-signature process is secure and compliant with international regulations, allowing businesses to conduct transactions online while ensuring the integrity and authenticity of the signed documents.

Reusable Identity Solutions: Sumsub’s reusable identity solutions are designed to reduce friction in the verification process. With this service, users can securely store their verified identity data and reuse it across different platforms, eliminating the need for repeated verification. This feature is particularly helpful for users who regularly engage with multiple platforms or services, such as in the financial or gaming industries. It makes the onboarding process faster and more convenient, while maintaining the highest standards of security and compliance.

Custom Solutions: In addition to its standard offerings, Sumsub provides tailored solutions to meet the specific needs of different industries and businesses. Whether it’s customising the verification flow, integrating the platform with existing systems, or developing bespoke fraud detection tools, Sumsub works closely with its clients to ensure the solution meets their exact requirements. This flexibility allows businesses to adapt the platform to their unique needs, ensuring a smooth and compliant onboarding experience.