---
title: "Estonian online identity verification startup raises USD15.5 million in financing round"
id: "49211"
type: "post"
slug: "estonian-online-identity-verification-startup-raises-usd15-5-million-in-financing-round"
published_at: "2020-07-02T15:51:22+00:00"
modified_at: "2020-07-02T15:52:16+00:00"
url: "https://estonianworld.com/business/estonian-online-identity-verification-startup-raises-usd15-5-million-in-financing-round/"
markdown_url: "https://estonianworld.com/business/estonian-online-identity-verification-startup-raises-usd15-5-million-in-financing-round.md"
excerpt: "The Estonian online identity verification startup, Veriff, has closed a financing round of USD15.5 million to bolster its global growth. Founded in 2015 by Kaarel […]"
taxonomy_category:
  - "Business"
  - "Technology"
publisher: "Estonian World"
language: "en-GB"
author: "Silver Tambur"
author_url: "https://estonianworld.com/author/silver/"
---

# Estonian online identity verification startup raises USD15.5 million in financing round

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

By  [Silver Tambur](https://estonianworld.com/author/silver/)
  ·  July 2, 2020  · [Business](https://estonianworld.com/category/business/)
, [Technology](https://estonianworld.com/category/technology/)
 · 1 minute of reading

### The Estonian online identity verification startup, Veriff, has closed a financing round of USD15.5 million to bolster its global growth.

Founded in 2015 by Kaarel Kotkas, Veriff’s technology makes sure a person is who they claim to be. Using artificial intelligence, the firm claims to analyse thousands of technological and behavioural variables in seconds, verifying people from around the world. The company serves a global portfolio of internet businesses, including fintech companies and sharing economy providers. It currently employs 230 people in Estonia and the US.

Kotkas said in a statement that despite the global crisis caused by COVID-19, the company has “witnessed increased customer engagement and taken advantage of accelerated digitalisation around the world”.

“The global pandemic has brought along significant paradigm shifts. This has created an increased demand for online identity verification,” Kotkas said. “During the pandemic, we were in close contact with our international customers and witnessed how the global tech giants as well as more traditional businesses pivoted their strategies in response to the crisis.”

The new investment brings Veriff’s total financing to USD23.8 million. Its investors include Mosaic Ventures, Y Combinator, SV Angel, ACE & Company, LIFT99, Superangel, Ashton Kutcher, Paul Buchheit, Elad Gil, Taavet Hinrikus, Sten Tamkivi, Gustaf Alstromer, Anu Harihara, Andrew Prozes and others.

Cover: Veriff’s team in 2019. Photo by Veriff.

## About The Author

![Avatar photo](https://estonianworld.com/wp-content/uploads/local-avatars/2/1572652467-bpfull-100x100.jpg)

[Silver Tambur](https://estonianworld.com/author/silver/)
Silver Tambur, co-founder and publisher of *Estonian World*, studied journalism at the University of Tartu and politics at Birkbeck, University of London. He has edited Estonian Public Broadcasting’s English news and contributed to *Business Sense*, *Deutsche Welle*, and *Radio New Zealand*. He is currently editor-in-chief of *Trialoog*, TalTech’s business and research portal. You can also follow him on [Twitter](https://twitter.com/SilverTambur)
 and like [his page on Facebook](https://www.facebook.com/silvertamburpage/)
. You can write to Silver at [silver@estonianworld.com](mailto:silver@estonianworld.com)
.