Verification security is an evolving issue that, as businesses continue to digitise, many spend unnecessary amounts of time building the infrastructure for. Sumsub has built a global verification platform that helps remote workers and international employees securely log into their work accounts in a simple and secure manner.
The all-in-one verification platform is used by more than 4,000 companies to verify users and transactions. Sumsub has also developed a compliance-as-a-service platform, a first-of-its-kind application that helps companies adhere to AML regulations to “Know Your Customer” (KYC). Expanding from its one-size-fits-all verification service has reaped dividends for Sumsub, which enjoyed $30M in Series B funding off the back of its compliance service launch in 2022.
Moving forward, Sumsub is looking strong within a competitive verification market. Its products are applicable to a range of industries within tech including fintech, gaming, and even rideshare apps. The latter is an especially lucrative market in Europe, car ownership trends shifting, with a growing share of drivers opting for flexible mobility solutions over owning a vehicle outright. This indicates that ridesharing is a particularly lucrative sector for Sumsub to tackle.
Steph
Company Specialist at Welcome to the Jungle
