London-based B2B SaaS platform offering instant employment and income verifications, Konfir has raised a £1.6 million funding. The pre-seed round was led by Triple Point Ventures, which is backing founder Chris Milligan for a second time. The round has also been supported by a long list of prominent UK tech angels, including Michael Pennnington, co-founder of Gumtree, Duncan Tatton-Brown who has sat on the boards of Zoopla, Trainline and Loveholidays, along with executives from Stripe.
The startup will use the funds to further its engineering, product and go-to-market capabilities while also launching with some of Europe’s largest background checking providers.
Employment verifications are required in various consumer life events such as moving jobs or homes. Companies and individuals face an administrative headache having to prove on average either 3 or 5 years of work history. This sensitive employment data is currently shared insecurely via email, PDF, or on phone calls.
Focused on background checking, the platform has been launched in the UK at a time when changes to employment policy are being introduced, allowing trusted digital identities to be used to conduct pre-employment checks and prove right to work.
Chris Milligan, founder and CEO, Konfir, said: “It’s critical to speed up the process of employee verification and in turn the economy. Clearly, there is a lot of opportunities given the rate of movement in the job market and pent-up demand.”
Seb Wallace, investment manager, Triple Point Ventures, said: “Konfir is solving a major problem for employers and staff across Europe, at a time when hiring and retention is a key priority for businesses across the continent.”