OneID raises £1m for bank-verified digital identification
Eliminating the need for physical identification, OneID allows businesses and individuals to digitally prove their identity instantly
Digital identification service provider OneID has just secured £1m in funding from ACF Investors.
The UK fintech will use the funds to further develop its bank-verified digital identity products.
Founded in 2020, OneID aims to make it easier and more secure for people to prove who they are online, enabling more individuals in the UK to have a safe digital experience.
With OneID, users do not need physical identification documents, allowing both businesses and individuals to verify their identity instantly and anywhere, with the company contacting and verifying details with a user’s bank, either online or through mobile banking.
OneID CEO Paula Sussex described the investment from ACF Investors, which adds to previous funding from 170 angel investors, as a “coming together” of similar visions.
“As the world increasingly becomes digital-first, we aim to minimise fraud, enhance online experiences, and make the world a safer place,” Sussex said.
“ACF is our second institutional investment, and it is a vote of confidence in our efforts to make digital identification accessible and available to more UK citizens.”
ACF Investors managing partner Tim Mills said the firm constantly monitors businesses with the potential to “enhance the lives of the British people and redefine the future of the UK”.
“OneID, with its simple, trustworthy, and effective solution to a pressing problem, could touch some 50 million UK citizens and make bank-verified digital identification the norm in the UK,” he added.