Shufti Pro secures Series A for identity verification

Shufti Pro, identity verification solution provider, has raised $20m in Series A funding led by Updata Partners.

Shufti Pro said its mantra is to provide a seamless digital customer experience when it comes to KYC, and as such the organisation provides a range of solutions with identity verification at its core.

The UK-based company offers KYC, KYB, and AML services to help global businesses onboard and manage risk of legitimate customers.

The investment will be used to accelerate Shufti Pro’s global expansion providing additional resources to push their completely automated solution to new markets to help solve organisation’s unsatisfactory IDV process, enhance its IDV solutions and extend the company’s compliance suite.

Victor Fredung, CEO of Shufti Pro, said, “Our configurable and fully automated platform allows customers to incorporate a frictionless verification process specific to their business objectives and provides the flexibility to address data privacy and security requirements, including the ability to deploy an on-premise solution. We strive to provide the global coverage demanded by borderless organisations.”

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