About Onfido
Onfido is a company based in London (United Kingdom) founded in 2012 by Ruhul Amin and Husayn Kassai was acquired by Entrust in February 2024.. Onfido has raised $242.38 million across 13 funding rounds from investors including Entrust, SoftBank Group and TPG. The company has 516 employees as of January 31, 2022. Onfido has completed 2 acquisitions, including Airside Mobile and Eyn. Onfido operates in a competitive market with competitors including IDnow, Socure, Perfios, Jumio and HID Global, among others.
- Headquarter London, United Kingdom
- Employees 516 as on 31 Jan, 2022
- Founders Ruhul Amin, Husayn Kassai
- Stage Minicorn
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Sectors
TechnologyFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Onfido Ltd
- Date of Incorporation 29 Dec, 2010
- Jurisdiction LONDON, ENGLAND
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Annual Revenue
$119.09 M (USD)3as on Jan 31, 2023
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Net Profit
$-31.33 M (USD)42as on Jan 31, 2023
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EBITDA
$-36.75 M (USD)32as on Jan 31, 2023
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Total Equity Funding
$242.38 M (USD)
in 13 rounds
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Latest Funding Round
$6.55 M (USD), Grant
Aug 18, 2020
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Investors
Entrust
& 25 more
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Employee Count
516
as on Jan 31, 2022
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Investments & Acquisitions
Airside Mobile
& 1 more
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Acquired by
Entrust
(Feb 06, 2024)
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Software Development Team
227 people
Sales and Marketing
90 people
Leadership Team
51 people
Product Management Team
35 people
Senior Team
33 people
Sr. Team
19 people
Human Resources and Administration
18 people
Finance and Accounting
15 people
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Funding Insights of Onfido
Onfido has successfully raised a total of $242.38M across 13 strategic funding rounds. The most recent funding activity was a Grant round of $6.55 million completed in August 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 13
- Last Round Grant — $6.5M
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First Round
First Round
(01 Aug 2012)
- Investors Count 25
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2020 | Amount | Grant - Onfido | Valuation |
investors |
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| Apr, 2020 | Amount | Series D - Onfido | Valuation | TPG | |
| Apr, 2019 | Amount | Series C - Onfido | Valuation | SoftBank Group |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Onfido
Onfido has secured backing from 26 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Entrust, SoftBank Group and TPG. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Fund of funds focused on pre-seed and seed-stage companies
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Founded Year | Domain | Location | |
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Venture capital fund investing in tech startups
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Founded Year | Domain | Location | |
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Venture capital investments in technology startups are facilitated by M12.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Onfido
Onfido has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Airside Mobile and Eyn. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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AI-based multi-modal biometrics authentication solutions are provided for user security.
|
2016 | ||||
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Mobile transaction platform for airport passengers is provided.
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2009 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - Onfido
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Onfido Comparisons
Competitors of Onfido
Onfido operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as IDnow, Socure, Perfios, Jumio and HID Global, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Automated and expert-led identity verification services are provided.
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| domain | founded_year | HQ Location |
AI-based identity verification and fraud detection are provided.
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| domain | founded_year | HQ Location |
Provides financial technology solutions for data analysis and verification globally.
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| domain | founded_year | HQ Location |
AI-powered identity verification and fraud protection solutions are provided.
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| domain | founded_year | HQ Location |
Cloud-based physical identity and access management systems are developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Onfido
Frequently Asked Questions about Onfido
When was Onfido founded?
Onfido was founded in 2012.
Where is Onfido located?
Onfido is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of Onfido?
Husayn Kassai is the current CEO of Onfido. They have also founded this company.
Is Onfido a funded company?
Onfido is a funded company, having raised a total of $242.38M across 13 funding rounds to date. The company's 1st funding round was a Series C of $50M, raised on Aug 01, 2012.
How many employees does Onfido have?
As of Jan 31, 2022, the latest employee count at Onfido is 516.
What is the annual revenue of Onfido?
Annual revenue of Onfido is $119.09M as on Jan 31, 2023.
What does Onfido do?
Onfido was founded in 2012 in London, United Kingdom, as a provider in the identity verification sector. Solutions for document and biometric authentication are offered, alongside tools for workflow orchestration, data verification, and fraud detection. Secure customer onboarding and regulatory compliance are enabled through these products. Operations support digital transformation in government and enterprise settings across various regions.
How many acquisitions has Onfido made?
Onfido has made 2 acquisitions, including Airside Mobile, and Eyn.
Who are Onfido's investors?
Onfido has 26 investors. Key investors include Entrust, SoftBank Group, TPG, University of Oxford, and Idinvest Partners.
What is Onfido's valuation?
The valuation of Onfido is $429.02M as of Apr 2020.
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