Onfido adds alternative lenders EstateGuru and Bondora to its European customer base

By Oliver Smith on Wednesday 15 July 2020

Alternative Lending

Days after reporting a 40% jump in Q2 sales.

Onfido adds alternative lenders EstateGuru and Bondora to its European customer base
Image source: Husayn Kassai (right)/Onfido.

ID verification startup Onfido had added European alternative lending platforms Bondora and EstateGuru to its client list. 

The partnerships mean that Onfido’s tech will now be used to perform ID verification on the platforms, letting customers sign up in seconds by scanning their government ID and taking a selfie. 

Onfido also added a partnership with Voima Gold, a Finnish fintech offering gold-backed accounts and the ability to buy and sell the precious metal. 

“With modern identity verification, forward-thinking organisations such as Bondora, Voima Gold, and EstateGuru are automating the most rigorous compliance requirements with a simpler and faster customer experience,” said Onfido CEO and co-founder Husayn Kassai. 

“We’re pleased that they’ve switched to us as their partner and look forward to being able to help them scale their businesses.” 

Bondora currently has 125,000 investors across 37 countries, numbers which are continuing to scale leading the company to look for new ways to streamline onboarding and customer checks. 

EstateGuru similarly counts 52,000 investors on its property lending platform coming from 106 countries. 

“90% of EstateGuru's core processes are digitised, making the company agile and efficient,” said EstateGuru’s chief operating officer Mihkel Stamm. 

“The application of AML measures and KYC principles is an unavoidable part of being a sustainable alternative financing platform, creating trust and serving clients from different parts of the world.” 

Last week Onfido reported a 40 per cent jump in its Q2 sales, lifted by new businesses looking to embrace remote ID verification. 

In April the startup closed its biggest funding round to-date, raising $100m in a round led by US investment giant TPG Growth—a backer of Netflix, Airbnb and Uber. 

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