Idwall is a Brazilian Start Up, specialised in automated identity validation and fraud prevention solutions, which has just sold part of its shares in a 10M$ round.
It has done so to new investors such as Qualcomm. Ventures.
Online fraud and identity theft is a global problem that knows no barriers or borders.
But Brazil, in particular, ranks second in the world for these crimes, with one attempted fraud every 16 seconds.
There, they can cost around 15M$ annually.
In addition to being a problem for Brazil's own citizens, this can be an obstacle for the country's economy.
With the numbers involved, other countries may question the suitability of the place to do business.
To address this problem and to try to tackle it, in 2016 the Idwall.
Based in São Paulo, this start-up began as an automated background check solution.
Since then, it has become one of the most specialised firms in identity and data validation products.
Helps companies digitally validate users' identities through AI and big data.
It is based on 3 axes:
- Data analysis
- Facial recognition software
- Machine learning for identity identification
Among its clients, we can find such important companies as Loggi, Ebanx or OLX.
VARIOUS ROUNDS
Earlier this November, Idwall sold a portion of its shares in a Series B round of funding worth 10M$.
The deal was led by Qualcomm Ventures.
Other investors such as Globo Group, one of the largest media and real estate conglomerates in Latin America, also participated.
Previously, in 2018, this Start Up already did something similar and sold another part of its shareholding, receiving just over 2M$ from Brazilian funds Canary and Monashees.
With all of the above, Idwaall plans to further expand its services by the end of 2020.
OTHER RELEVANT INDUSTRY ROUNDS
SIGNATURIT
Signaturit develops a electronic signature software designed to offer trusted services that guarantee the legal security of all digital transactions from any device.
There is no need to install any application.
Recently, it was able to lift 7M€ in a Series A round.
VALIDATED ID
Validated ID is a Catalan firm specialised in electronic signatures, electronic invoicing and digital invoicing..
It has three lines of business:
- VIDsigerElectronic signature service designed for both face-to-face and remote use.
- SP4ielectronic invoicing service.
- VIDchainSovereign technology-based digital identity service blockchain.
In addition, it has captured 2M€ in its latest round of funding.