cheqd
Data network platform
- 1-20 employees
- Fintech
- B2B
- Cryptocurrency
- SaaS
- Identity
- London, UK
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Company mission
To become the de-facto payment mechanism for trusted (authentic) data.
Our take
cheqd is building the network for digital credential businesses to incentivise all parties - the crucial piece neglected by companies adopting Self-Sovereign Identity. This is a crucial hurdle to moving from the current silos of data towards a world where data is controlled personally by individuals, while facilitating new business models.
It regards incentivised networks and incentives as central to verifiable credentials and decentralised identity succeeding in the commercial marketplace. By so doing, cheqd rewards everyone from network stewards and holders to issuers and verifiers, leveraging the great work by the Sovrin Foundation and their token initiative, forking from the original token codebase.
This approach helps give individuals back full control of their data and offers companies strong commercial incentives to embrace this new paradigm, including new revenue streams to enhance profitability. cheqd believes that commercial profitability is fundamental, but can't be prioritised to the detriment of privacy, sustainability, and inclusion.
Having been founded in February 2021, cheqd is growing quickly with a team of backers and advisors behind it. It's participating in and boosting the rapid growth in Self-Sovereign Identity/Veritable Claims globally, helping to revolutionise the industry.
Steph
Company Specialist at Welcome to the Jungle
Funding (2 rounds)
Sep 2021
$2.6m
SEED
May 2021
$0.7m
SEED
Total funding: $3.3m
Leadership
Fraser Edwards
(CEO)Having studied at Imperial, they worked for 6 years at Accenture where they led the WEF-backed Known Traveler Digital ID. In February 2021, they co-founded verim, and has served as CEO since then.
Ankur Banerjee
(CTO)They spent 6 years at Accenture on digital identity and blockchain, a year as Head of Engineering at IDWorks, and then 6 months as Senior Product Manager at R3 before co-founding verim as CTO.