Business identity platform Duna bags €30m funding round

Duna

Duna, an identity FinTech founded by former Stripe executives, has raised fresh capital of €30m as it looks to tackle one of the most persistent challenges facing digital business: trusted and reusable business identity.

The company announced it has secured €30m in a Series A funding round led by CapitalG, Alphabet’s independent growth fund. Existing backers Index Ventures, Puzzle Ventures and Frank Slootman, chairman of Snowflake, also participated in the round.

Founded in 2023, Duna is building what it describes as global trust infrastructure for the internet. Its platform provides a digital passport for businesses, enabling organisations to verify, share and reuse business identity information securely. Over time, the company plans to evolve this into a network that allows for shareable identity and one-click onboarding across the digital economy.

Duna’s AI-native business identity platform is already being used by large banks, FinTechs and financial institutions to streamline onboarding and compliance processes. Customers include Plaid, Fiserv subsidiary CCV, Moss, Bol and SVEA Bank. According to the company, clients have reported onboarding that is more than ten times faster and significant productivity gains as a result of using the platform.

The newly raised funding will be used to expand Duna’s enterprise capabilities, with a particular focus on building compliant and auditable AI while maintaining the regulatory standards required by banks and large enterprises. The company is positioning its technology as a way to reduce the operational burden and cost associated with manual compliance and identity checks, while also helping firms respond to increasingly sophisticated fraud risks.

Duna operates across Germany and the Netherlands and was founded by Duco van Lanschot, formerly head of Benelux and DACH at Stripe, and David Schreiber, who previously ran Stripe’s largest global business unit, including its core card payments platform.

Duna founder Duco van Lanschot said, “Duna is addressing one of the internet’s biggest unsolved problems: identity,” adding, “Compliance and identity now consume up to 10-20 percent of a bank’s total costs. The expensive and manual legacy systems lead to billions lost in fraud, friction, and fines, as well as lost income from refusals of legitimate customers. This makes it an ideal use case for AI automation.”

Duna founder David Schreiber said, “The need for a secure business identity has never been more urgent: AI has many benefits, but it also enables an acceleration in the velocity and sophistication of fraud. Duna will help companies root out this fraud,” and added, “We are turning a decades-old compliance cost center into a core revenue driver.”

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