BBVA and technology firm das-Nano are pumping EUR4 million into Veridas, the digital identity verification startup they created in 2017.
Veridas uses self-developed AI algorithms to perform millions of cloud-based ID validations in three main areas: document verification, face biometrics and voice biometrics.
BBVA and das-Nano say that the Covid-19 pandemic has seen the demand for digital ID technology explode. The founders have now committed more funds to support Veridas's expansion, particularly in Europe and Latin America.
Eduardo Azanza, CEO, Veridas, says: "The capital increase is a sign of trust in Veridas from the two partners and a reinforced commitment to the team, the technology, and the company's vision of becoming one of the world's leading players in biometrics and digital identity verification."