Warsaw-based Authologic, a digital identity verification platform, helping businesses streamline KYC and AML processes, has raised $8.2 million in Series A funding. The round was led by European VC OpenOcean, with strong participation from technology startup accelerator YCombinator, European VC Peak Capital, and US-based SMOK VC.
With offices in Warsaw, Poland; London, UK; and San Francisco, US, this investment positions Authologic to expand its offering internationally to join its existing household name customers like Santander Leasing, LV Bet, and eToro.
AI-based identity fraud on the rise
While AI is making it easy to create fake documents, legacy KYC systems relying on document images for digital identity are outdated and increasingly vulnerable to fraud, identity theft, and compliance failures. Authologic addresses the critical flaw, so businesses need not depend on legacy systems for secure identity verification.
The platform helps companies provide a modern, frictionless onboarding process that meets the convenience customers expect without compromising privacy. It enables faster onboarding, reduced fraud risk, and lower operational costs, all while enhancing customer satisfaction in today’s digitally demanding era.
Secure online identity verification made possible
Founded by Jarek Sygitowicz, Krzysztof Klimczak, and Marek Rogozinski in 2020, Authologic provides identity verification solutions, including tools to determine identity through online video, data, and digital IDs. Its mission is to simplify and secure online identity verification by integrating e-ID technologies, biometric checks, and Open Banking data into a single, flexible platform.
This one-of-a-kind approach allows companies to automate complex verification processes, improving conversion rates while cutting costs and manual effort. Authologic’s unified e-ID platform aggregates hundreds of e-ID systems, helping businesses bridge the gap between legacy systems and the future of digital identity. Its secure digital verification process preserves privacy and builds trust, eliminating outdated methods like plastic IDs and photo uploads that expose unnecessary personal data.
By integrating seamlessly with existing KYC infrastructures, Authologic allows companies to adopt secure e-ID solutions wherever possible, easing the transition towards digital IDs.
Krzysztof Klimczak, CEO and Co-Founder of Authologic, said: “Our platform is designed to help firms counteract the increase in AI-driven fraud, offering them a seamless, secure, and automated solution that stays ahead of emerging fraud tactics. We are excited to have the support of our investors as we expand our reach and continue to innovate in the digital identity space.”
Tony Nysten, Partner at OpenOcean, commented: “For decades, people in the Nordics have used bank e-IDs to sign contracts, purchase items, and even book dentist appointments online. With the Nordics having paved the way in digital identities, we believe Authologic is on the cusp of driving a revolution on a global scale. The demand for secure, efficient and easy-to-use identity verification is universal, and Authologic’s approach is precisely what the market needs. Its vision of building a new, trust-based identity layer on the internet resonates deeply with us, and we are thrilled to support the team as they lead the charge in making this vision a reality. Authologic is reshaping online identity.”
Nicolas Dessaigne, Group Partner at YCombinator, remarked: “At Y Combinator, we have a front-row seat to seeing AI fundamentally transform the way businesses operate, and it’s become clear that traditional identity verification methods, reliant on outdated practices like photos of physical documents, are no longer sufficient. Since going through YC in 2021, Authologic has consistently demonstrated its ability to stay ahead of these trends. We are proud to back a team that not only meets the challenges of today but also anticipates the needs of tomorrow, driving the future of secure, automated identity verification.”
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