Australian ID verification fintech Data Zoo lands $22.7m Series A funding
Australian identity verification solutions provider Data Zoo has raised $22.7 million in Series A funding from Ellerston JAADE, an Ellerston Capital fund.
Data Zoo bags $23m Series A
The new cash, which represents Data Zoo’s first outside investment, has been earmarked to help the firm expand its global footprint and drive the adoption and further development of its identity verification software.
Founded in 2011 and based in Sydney, Data Zoo serves financial institutions across more than 170 countries, helping them to verify consumer and business identities.
Data Zoo’s services include real-time data verification, document authentication, business checks, and online fraud detection. It claims its mission is to “provide a global, efficient, secure alternative to legacy solutions while enhancing KYC/KYB compliance and fraud prevention”.
The fundraise comes hot on the heels of the fintech’s recent appointment of former London Stock Exchange Group (LSEG) head Charlie Minutella as CEO in February.
Commenting on the raise, Minutella states the investment “will supercharge our capacity to operate in key markets, attract new business, and enter new strategic partnerships”.
