Veridox, a Manchester, UK-based AI-powered fraud detection platform for the insurance industry, has raised £1 million in Seed funding.
Investors
The round was led by Outward VC, with participation from Solo Investments Holdings Limited, founded by Solly Solomou.
Outward VC is a London-based venture capital firm specializing in early-stage fintech and enterprise technology companies. The firm typically invests in Seed to Series A rounds. Founded in 2017, Outward VC primarily invests in startups across the UK and Europe.
Veridox Use of Funds
The company will use the funds to accelerate product development, expand sales efforts, and grow its team ahead of a wider market launch.
About Veridox
Founded by Dan Sandler and Joey Clover, Veridox has developed an AI-driven platform that detects manipulated documents and images with forensic precision. The platform uses artificial intelligence to conduct forensic analysis of documents and images submitted in insurance claims. Its AI-generated reports comply with UK Civil Procedure Rule 35, ensuring they can be admitted as evidence in court. Headqyuartered in Manchester, United Kingdom, Veridox is currently working with 15 leading UK insurers as development partners. The company’s mission is to help insurers detect fraud faster and make more informed decisions.
Funding Details
Company: Veridox
Raised: £1.0M
Round: Seed
Funding Date: September 2025
Lead Investor: Outward VC
Additional Investors: Solo Investments Holdings Limited
Company Website: https://wait.veridox.ai/
Software Category: Fraud Detection / InsurTech / AI for Document Forensics
Source: https://techfundingnews.com/veridox-raises-1m-explainable-ai-insurance-fraud-detection/