Shufti Pro, a London-based global market leader in AI-powered IDV solutions, announced that it raised $20 million in Series A funding led by Updata Partners, a tech-focused growth equity firm.

The investment will be used to accelerate Shufti Pro’s global expansion providing additional resources to push their completely automated solution to new markets to help solve the organization’s unsatisfactory IDV process, enhance its IDV solutions and extend the company’s compliance suite.

Company: Shufti Pro Ltd.

Raised: $20.0M

Round: Series A

Funding Month: March 2022

Lead Investors: Updata Partners

Additional Investors: 

Company Website: https://shuftipro.com/

Software Category: AI-based Identity Verification

About the Company: Shufti Pro is an identity verification service provider offering KYC, KYB, and AML services to help global businesses onboard and manage the risk of legitimate customers. It aims to create a secure and safe online marketplace devoid of identity theft and other fraudulent activities. The UK-based company has 5 regional offices and launched 17 different IDV products since its inception in 2017. With the ability to verify ID documents globally in 150+ languages, Shufti Pro is serving customers in 230+ countries and territories.

Source: https://shuftipro.com/press-release/shufti-pro-announces-20-million-series-a-funding-to-accelerate-growth-uk/