Identity fraud fighting startup ubble raises €10m in seed round

From: RegTech Analyst

French tech startup ubble has bagged €10m in seed capital and a partnership with Bpifrance, the investment bank.

Partech and Breega were the investors participating in the raise. The money will be used to recruit more employees, especially for its sales and marketing teams, and to expand across Europe.

The Bpifrance partnership will see the later use ubble’s identity verification solution to ensure the validity of applications for cash support loans following the Covid-19 crisis.

“This new fund raising and this project with Bpifrance are for us another step in the conquest of the European identity verification market,” said Juliette Delanoe, co-founder of ubble. “We are confirming our desire to become a leader in French and European technology: combining cutting-edge technology, compliance with French and European regulations and respect for user data”.

Boris Golden, Principal at Partech, added, “Our first reaction when we heard about ubble was: ‘another identity verification startup!’ However, we couldn’t imagine that such an exceptional and expert team would have launched itself without having identified a huge opportunity.

“And indeed, ubble had an incredible strategic vision and audacity: to spend several years building a deeply differentiated technology, without worrying about existing offers that did not bet on a strong technological core. With the growing demands of customers and regulators, ubble’s positioning is proving its relevance and deep added value every day.”

Isabelle Gallo, partner at Breega, added, “We are delighted to support ubble in its conquest of new markets. To date, ubble is the most reliable and user-friendly solution offering online identity verification via real-time video. Obtaining the ANSSI certificate would enable it to accelerate the digital transformation of a large number of traditional banking and financial institutions and eventually become a global reference in identity verification.”

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