Polish Digital ID Check Startup Raises $8.2M in Series A

The Polish startup Authologic has raised $8.2 million in a Series A funding round. Its funding round was led by OpenOcean, a European venture capital firm, with participation from Peak Capital.

Founded in 2020, the firm offers a KYC/AML platform designed to integrate multiple digital IDs through a single API. A primary focus is on verifying government-issued digital IDs without asking end users to upload a photo of a physical identity card.

“Identity is the foundation of a well-functioning society,” said co-founder and CEO Krzysztof Klimczak. “If we can’t be sure who we’re dealing with online, it undermines trust in marketplaces, social interactions, and even democracy itself. That’s why digital identities must be easy to use and the practice of taking photographs of plastic ID cards should be left in the past.”

Ultimately, its aim is to help its clients to easily authenticate the digital IDs of their end users.

Its platform includes a “behavioral analysis” feature and supports face matching with liveness checks. It has a PSD2 AISP license authorizing it to provide account information services under European Union rules, and it has ISO 27001 and ISO 9001 certificates.

The startup already has a handful of high-profile clients, including Santander Leasing, e-Toro, and LV Bet.

Sources: FinExtra, Silicon Canals

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October 22, 2024