ACF Investors lead funding for UK's OneID digital ID services

UK’s only bank-verified digital identification service provider OneID has secured new funding led by ACF Investors.

OneID enables individuals to verify their identity in the fastest, safest way using bank-verified data. It requires no registration process, does not store any personal data, and removes the need for scanning passports or taking selfies to authenticate your identity online.

This approach enables a document-free digital identification process that can be completed within twelve seconds. The service also prioritises privacy, requiring consent to share personal data and helps businesses streamline onboarding, increase sales, reduce operational costs, and mitigate fraud risks. 

The funding follows a period of growth and implementation of the company’s technology with a growing customer base, including NatWest and Adobe. OneID will use the funding to enhance its product offering, expand its operations into new market sectors and deliver its services to new and existing customers.

Paula Sussex, CEO of OneID, says, “At OneID, our goal is to make the world safer by making digital identity verification more efficient and accessible for businesses and users. We’ve had a tremendous year in 2024 across several use cases. 

"With our integration with Adobe set to go live with leading high-street banks in the UK, we are proving our ability to solve urgent business problems against the toughest standard-setters.”

Tim Mills, Managing Partner at ACF Investors, shared:

“The Government’s growing focus on digital identity underscores the market’s need for simple and effective identification solutions. OneID is delivering exactly that, enabling both fraud prevention and regulatory compliance for financial institutions.” 

OneID is one of the leading angel-funded businesses in the world, having raised over £16 million from more than 200 UK, Swedish and US Angel Investors. The investment will drive growth and expand operations and services to reach a growing customer base.

Lead image: Freepik.