---
title: "Estonian ID verification startup Veriff raises USD7.7 million in an investment round"
id: "30050"
type: "post"
slug: "estonian-id-verification-startup-veriff-raises-usd7-7-million-in-an-investment-round"
published_at: "2018-06-19T13:39:32+00:00"
modified_at: "2018-06-19T14:26:45+00:00"
url: "https://estonianworld.com/business/estonian-id-verification-startup-veriff-raises-usd7-7-million-in-an-investment-round/"
markdown_url: "https://estonianworld.com/business/estonian-id-verification-startup-veriff-raises-usd7-7-million-in-an-investment-round.md"
excerpt: "The Estonian online identity verification startup, Veriff, has raised USD7.7 million in a series A investment round; the company plans to use the investment to […]"
taxonomy_category:
  - "Business"
taxonomy_post_tag:
  - "Estonian startups"
  - "Veriff"
taxonomy_post_format:
  - ""
publisher: "Estonian World"
language: "en-GB"
author: "Sten Hankewitz"
author_url: "https://estonianworld.com/author/stenhankewitz/"
---

# Estonian ID verification startup Veriff raises USD7.7 million in an investment round

![Image](https://estonianworld.com/wp-content/uploads/2018/06/Kaarel-Kotkas-by-Annika-Haas.jpg)

By  [Sten Hankewitz](https://estonianworld.com/author/stenhankewitz/)
  ·  June 19, 2018  · [Business](https://estonianworld.com/category/business/)
 · 1 minute of reading

### The Estonian online identity verification startup, Veriff, has raised USD7.7 million in a series A investment round; the company plans to use the investment to further develop its product and to expand to the US market.

The investment round, led by Mosaic Ventures, was joined by Taavet Hinrikus, Ashton Kutcher, Paul Buchheit, Elad Gil, Y-Combinator, SV Angel, ACE Ventures, LIFT99 and Superangel.

In total, Veriff has raised USD8.4 million in investment from 25 institutional and private investors.

Veriff was founded in 2015 by then 20-year-old Kaarel Kotkas. Today, the company has over 40 paying customers around the world. Its development and customer service team based in Tallinn, Estonia, and sales and marketing operations are to be moved to the United States.

[https://estonianworld.com/wp-content/uploads/2018/06/Veriff-team.jpg](https://estonianworld.com/wp-content/uploads/2018/06/Veriff-team.jpg)

The company has developed a technology to make it easy for companies to easily verify a person’s identity online. The solution can be implemented in minutes and it costs €49 a month, plus €2 per each verification.

I

Cover: Kaarel Kotkas (photo by Annika Haas).

## About The Author

![Avatar photo](https://estonianworld.com/wp-content/uploads/local-avatars/15/1707599474-bpfull-100x100.jpg)

[Sten Hankewitz](https://estonianworld.com/author/stenhankewitz/)
Sten Hankewitz is a lifelong journalist and the Executive Editor at Estonian World. Having lived in Estonia, Spain, the UK and all around the US, he now resides in the White Mountains of New Hampshire. He loves to write and besides working at Estonian World, he [writes books](https://estonianworld.com/culture/the-grand-illusion-estonian-worlds-sten-hankewitz-publishes-a-novel-about-growing-up-in-the-soviet-union/)
 and contributes to other outlets. He has strong convictions and shows them unashamedly. You can follow Sten on [Threads](https://www.threads.net/@stenhankewitz)
, [X](https://twitter.com/stenhankewitz)
 and [Facebook](https://www.facebook.com/shankewitz/)
. You can also [email him](mailto:sten@estonianworld.com)
.