Onfido reaches new heights with company’s best quarterly revenue earnings to date

Congratulations to our portfolio company, Onfido, as they recently announced their best sales quarter in their nine-year history with revenue increasing 93% year-over-year.

This strong momentum was attributed to another solid quarter in the United States (U.S.) and Central European markets, where revenues increased over 200% y-o-y in each region. This unparalleled growth was fueled by an acceleration in engagements from financial services organizations worldwide, specifically challenger banks and companies focused on retail investing, payments and crypto.

“We continue to see a strong push by financial services to digital-first and digital-only customer strategies, which has contributed to this record quarter, and there is no sign of it slowing down,” said Mike Tuchen, CEO of Onfido. “Enterprises see strong ROI from putting robust digital identity at the center of these strategies, enabling them to quickly scale and improve their customer experience without having to compromise on fraud protection or compliance.”

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Source: Onfido