• Veriff, an enterprise identity verification platform, has raised USD 100 million in Series C funding co-led by Tiger Global and Alkeon with participation from IVP and Accel. The round values the company at USD 1.5 billion (reportedly making it Estonia’s sixth unicorn) and brings its total funding up to USD 200 million. 

• The funds will be invested in R&D and the expansion of its global workforce (including sales and marketing teams).

• In 2021, the company saw rapid growth with volumes reportedly growing by 8x globally (20x in the US), driven by the financial services sector volumes rising 10x. Veriff further noted that its customer base has grown by 150% YoY.

<ul><li> Analyst QuickTake: FinTech platforms offering identity verification and fraud prevention infrastructure have seen a substantial influx of funding in the past few months with Socure raising USD 450 million (November 2021) and Alloy raising USD 100 million (September 2021). Moreover, the funding also follows Veriff’s recent partnership with Visa (joining the Visa FinTech Partner Connect in September 2021) to expand the market for its identity verification platform by tapping into Visa’s network of clients.</ul>