Amsterdam-based Ver.iD, an SaaS platform for digital identity verification, has announced the raising of €2 million in angel funding in order to expand ahead of the recent eIDAS 2.0 regulation.
Looking ahead from this recent funding, the platform is preparing for a new €4 million funding round to accelerate its European growth.
“In a time when AI-driven fraud and data breaches dominate the news, Ver.iD enables companies to receive only the necessary customer data. This ensures privacy while making onboarding and verification processes faster, safer, and more user-friendly,” says Robert van Altena, co-founder of Ver.iD.
Founded in 2022, Ver.iD provides companies and governments with an easy-to-integrate solution for digital identity verification. Fully compliant with current security standards, including ISO27001, NIS2, and DORA, Ver.iD allows users to determine what information they share while ensuring a seamless experience for organisations.
2024’s introduction of eIDAS 2.0, the new European regulation for digital identity, has increased the urgency to implement secure and user-friendly solutions. By 2026, public and private organisations, including banks, energy providers, and insurers, will be required to integrate digital ID apps into their processes.
Ver.iD is planning to be key player in this transformation by offering a solution that ensures compliance while combating fraud, minimising data breaches, and enhancing the user experience.
Ver.iD has drawn comparisons to Adyen, a fellow Dutch company that allows businesses to accept e-commerce, mobile, and point-of-sale payments. Ver.iD says that “Just as Adyen helps businesses integrate multiple payment methods and allows customers to choose their preferred payment method, Ver.iD offers a similar service for identity apps. The platform allows companies to seamlessly integrate ID wallets and digital identification methods, while customers retain the ability to select their preferred identity app.”
Ver.iD’s platform is already being used for both experimental (‘change’) and day-to-day (‘run’) operations by leading organisations, including:
- Verbond van Verzekeraars and Nationale Nederlanden: Simplifying processes like car insurance applications through digital identification instead of physical documents.
- Municipality of Nijmegen: Optimising digital onboarding and service delivery with the addition of eID functionality.
- Compliance wise: Helping around 200 accounting firms comply with customer identification regulations.
Additionally, pilots are being conducted in collaboration with the Chamber of Commerce to unlock authorisation data for executives through ID wallets.
The platform does not store customer data and gives users control over the information they share. Each ID app is carefully reviewed to meet Ver.iD’s high standards, ensuring maximum security and protection against data breaches.
A Program Manager for Digital Identity at one of the central government registers commented: “Ver.iD combines security, ease of use, and scalable integration into one powerful enterprise solution. It’s an essential partner for businesses preparing for the demands of eIDAS 2.0.”
“We are proud of the trust our investors and clients have placed in us,” says Van Altena. “Our goal is to become an international market leader and set the standard for digital identity in Europe.”