A fledgling French identity verification tech startup that goes by the name of ubble has raised seed funding from Partech and Breega to the total tune of €10 million and scored a partnership with Bpifrance to spur growth. The company intends to hire 15 additional people by the end of this year.
Founded in 2018 by alumni of companies like Gemalto, Criteo and Google, ubble's digital identity verification platform relies on live video streaming and AI to help companies verify the authenticity of a person trying to e.g. open a bank account, signing a temporary work contract etc. and thus prevent fraud.
Notably, the company says it has built its solution in compliance with today's relevant European regulations, priming it for expansion across the continent.
Competing against well-funded rivals such as European tech startups Onfido, IDNow, ForgeRock, Yoti, PXL Vision, Authenteq, Fully-Verified and others, ubble believes its technology - which prompts users to capture a live video of his or her face and ID documentation, and analyses the results in real time and with the help of identity fraud experts - will make a dent.
In a press release announcing the completion of its seed round, ubble also promises to make the identity verification process "fun", "interactive" and "enjoyable for everyone".
Juliette Delanoe, one of the co-founders of ubble, said: "This new fund raising and this project with Bpifrance are for us another step in the conquest of the European identity verification market. We are confirming our desire to become a leader in French and European technology: combining cutting-edge technology, compliance with French and European regulations and respect for user data."
The startup has managed to convince Bpifrance, the French public investment bank, to integrate its solution into the processes that allow entrepreneurs to apply for Covid-19 related support loans. It also boasts other referral clients such as Carrefour Banque, Sofinco (a Crédit Agricole brand), fellow French startup Heetch and others.
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