Spotify backers raise $4.5 for Onfido 

Wellington Partners lead Series A funding round in online background checking business

Wellington Partners, who invested in both Spotify and Drobox, have raised $4.5 million by leading a Series A funding round for background checking company Onfido.

The tool was developed by Oxford graduates Husayn Kassai, Eamon Jubbawy and Ruhul Amin. They formed the company around two years ago with support from the university in the initial seed round.

To date the company has raised $5.3 million through joint funding from Oxford University, Wellington Partners and CrunchFund.

Wellington Partners, who led the latest funding round, have previously invested in successful tech giants Dropbox and Spotify. In total they have $905 million under management. They have bases in London, Munich and Palo Alto.

>See also: What are potential sources of funding for your business?

Eric Archambeau, who will join the board at Onfido, said he has been impressed by the business’s “revolutionary technologies and the strength of its team”.

“Some have called Onfido ‘the backbone of the sharing economy’, as their quick and efficient global background checks allow companies to build the trust that is central to the growth of their platform,” he said. “The plan is use this round of funding to build out the technology and launch in more countries.”

Onfido co-founder and CEO Kassai added the company’s tools “ensure our clients are checking the correct person before carrying out additional checks”.

Further reading on funding: WeTransfer raises $25m in Series A funding round

Praseeda Nair

Praseeda Nair

Praseeda was Editor for from 2016 to 2018.

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Series A funding