OneID, the UK’s leading provider of bank-verified digital identification services, has successfully raised £1m in funding from ACF Investors. This investment will enable OneID to further develop its products and continue its mission of creating a safer digital environment by allowing people to easily and securely verify their identity online.
With the increasing reliance on digital interactions and transactions, OneID’s solution eliminates the need for physical identification documents, enabling businesses and individuals to instantly and remotely validate their identities.
Paula Sussex, CEO of OneID, expressed her enthusiasm for the investment from ACF Investors, stating that it reflects a shared goal of reducing fraud and enhancing online experiences. She also emphasized the importance of making digital identification accessible to a wider range of people in the UK.
To register on the OneID platform, users select it as their preferred identity verification method during the sign-up process and grant permission for OneID to access their bank information through online or mobile banking. Once approved, OneID swiftly confirms the user’s identity to the online service provider.
This bank-verified digital identity service has the potential to positively impact nearly 50 million UK citizens, revolutionizing online transactions for both consumers and businesses by providing a secure, efficient, and convenient method of identification.
OneID is also notable for being one of the largest angel-backed startups in the UK, with support from 170 angel investors thus far.
Tim Mills, Managing Partner at ACF Investors, spoke highly of OneID’s potential and the significance of their mission. He acknowledged the importance of investing in innovative solutions that can advance the digital-first approach that society is rapidly adopting.
Follow crowdfundingmagazine on Instagram: @crowdfundingmagazine_it