“The number of identity verification requests that the company received has tripled in certain sectors, and iDenfy is now looking to bring in more investment funding to accelerate its growth.”
The Lithuanian identity verification specialist iDenfy has passed a major milestone after securing its 500th client. The figure represents a new high water mark for the company, which has now been in business for just under five years. iDenfy will celebrate its official birthday on August 5.
In the meantime, iDenfy credited its recent success to the growing demand for strong digital identity solutions. The company launched five new products in 2021 alone, and is rapidly expanding its team to support further development. iDenfy’s employee headcount jumped 70 percent in the past year, with many of those new hires coming in IT, marketing, and sales as the company looks to add to its growing number of clients.
That new staff will also help iDenfy deal with increased traffic on its servers. The number of identity verification requests that the company received has tripled in certain sectors, and iDenfy is now looking to bring in more investment funding to accelerate its growth. The company released a new Business Verification solution earlier this month, and indicated that the combination fraud prevention and identity verification product is already bringing in new clients in its first few weeks on the market.
iDenfy plans to build on that with the release of even more products in the future. The company noted that businesses are increasingly turning to automated identity solutions to fight fraud and achieve regulatory compliance. Such solutions can also reduce costs and produce operational efficiencies.
“Managers need to screen and monitor their business partners against fraud more easily,” said iDenfy CEO Domantas Ciulde. “That’s why our goal is to eliminate the unnecessary paperwork, risks of human error, and save time.”
iDenfy is now moving forward with plans to open an office in London, in the hopes that the international presence will the company reach a new pool of potential clients. The company has partners from across the economic spectrum, ranging from cryptocurrency and financial services to online gaming platforms.
May 27, 2022 – by Eric Weiss