Ver.iD, a digital identification startup, raises €2 million and plans to raise €4 million to support its growth in Europe.

In order to grow ahead of the recent eIDAS 2.0 rule, Amsterdam-based Ver.iD, a software as a service platform for digital identity verification, has announced that it has raised €2 million in angel capital.The platform is getting ready for a fresh €4 million investment round to boost its European expansion in the wake of this recent funding round."Ver.iD allows businesses to obtain only the necessary consumer data at a time when news stories are dominated by AI-driven fraud and data breaches. Ver.iD co-founder Robert van Altena states, "This guarantees privacy while making onboarding and verification processes faster, safer, and more user-friendly."Ver.iD, which was founded in 2022, offers businesses and governments a simple-to-use solution for digital identification verification. Ver.iD is completely compliant with modern security standards, such as ISO27001, NIS2, and DORA, and gives consumers complete control over the information they disclose while guaranteeing a smooth experience for businesses.

The new European digital identification regulation, eIDAS 2.0, which goes into effect in 2024, has made it more urgent than ever to have safe and easy-to-use solutions in place. Public and private entities, such as banks, energy suppliers, and insurance companies, will have to include digital ID applications into their operations by 2026.Ver.iD intends to play a significant role in this change by providing a solution that minimizes data breaches, fights fraud, and improves user experience while guaranteeing compliance. Ver.iD has been compared to Adyen, another Dutch company that enables companies to take payments via point-of-sale, mobile, and e-commerce. "Ver.iD offers a similar service for identity apps, just as Adyen helps businesses integrate multiple payment methods and lets customers choose their preferred payment method," claims Ver.iD. While consumers can still choose their favorite identity app, the platform enables businesses to easily incorporate ID wallets and digital identification techniques. Leading organizations already use Ver.iD's platform for both experimental (or "change") and daily (or "run") operations, such as: Nationale Nederlanden and Verbond van Verzekeraars: