OneID secures new funding amid increased UK government focus on digital identity

UK-based bank-verified digital identification services provider OneID has secured new funding led by ACF Investors, which it will use to expand operations and services to a “growing customer base”.

While the latest amount raised has not been disclosed, OneID has previously raised over £16 million from more than 200 UK, Swedish and US angel investors.

ACF Investors made an initial investment in OneID in 2023.

OneID’s document-free digital verification process is completed in under 12 seconds and uses bank-verified data to simplify customer verification.

According to OneID, its verification solution is accessible to approximately 90% of UK adults who use online banking.

It will use the latest investment to improve its product offering, expand into new market sectors and deliver services to new and existing customers.

OneID’s growing customer base includes NatWest and Adobe.

Paula Sussex, chief executive officer of OneID

“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,” said Paula Sussex, chief executive officer of OneID.

“The funding from ACF Investors is a strong vote of confidence in us as a business, and we look forward to working with the team to supercharge our growth in 2025.”

Tim Mills, managing partner at ACF Investors, added: “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. We are delighted to follow on from our initial investment in 2023 and look forward to supporting the team as they grow.”

Further reading: Equifax UK and OneID work together on new onboarding solution