SHUFTI-PRO
17.3.2022 13:01:05 CET | Business Wire | Press release
A global market leader in AI-powered IDV solutions, Shufti Pro , has announced that it has raised $20 million in Series A funding led by Updata Partners, a tech-focused growth equity firm.
The investment will be used to accelerate Shufti Pro’s global expansion providing additional resources to push their completely automated solution to new markets to help solve organisation’s unsatisfactory IDV process, enhance its IDV solutions and extend the company’s compliance suite.
Shufti Pro’s mantra is to provide a seamless digital customer experience when it comes to KYC, and as such the organisation provides a diverse range of solutions with identity verification at its core. With the World changing and digital transformation accelerating, digital identity services have become the cornerstone of any organisation looking to verify the identity of customers.
As businesses continue to undergo digital transformation, relying on trusted IDV partners has become more important than ever. As stated by Victor Fredung, the CEO of Shufti Pro, “Our configurable and fully automated platform allows customers to incorporate a frictionless verification process specific to their business objectives and provides the flexibility to address data privacy and security requirements, including the ability to deploy an on-premise solution. We strive to provide the global coverage demanded by borderless organisations.”
There is a global need for a flexible and compliant solution for onboarding, background checks and management that operates across borders without the prejudice of regions, business types and languages. The World is calling for a broader solution to its digital crisis and Shufti Pro answers these questions with unique capabilities:
Automation - the most advanced fully automated solution.
Global coverage on various reading capabilities in all major languages including Arabic.
Configurable and highly customisable while specialising in unique requirements. Our solution can be installed on-premise which is a highly unique advantage in the market. We comply with even the most stringent regulatory requirements such as VideoKYC in Germany or data retention in UAE.
The company is already serving 500+ clients globally as per Founder and CTO of Shufti Pro, Shahid Hanif. He further said, “The funding round was about finding a strategic partner that has the relevant experience and knowledge, which we truly believe we have found. We can now develop more exciting products and solve onboarding and compliance issues faced all over the World.”
For more than 20 years, Updata, a firm that believes in creating exceptional outcomes for customers, employees, and shareholders, has supported entrepreneurs in B2B software that have a growth mindset and acknowledge capital efficiency.
“We were impressed by the technology and commercial progress achieved by a bootstrapped business. Shufti Pro is poised to build on this strong foundation and accelerate growth.” - said Braden Snyder, Partner at Updata Partners.
About Shufti Pro
Shufti Pro is an identity verification service provider offering KYC, KYB, and AML services to help global businesses onboard and manage risk of legitimate customers. The UK-based company has 5 regional offices and launched 17 different IDV products since its inception in 2017. With the ability to verify ID documents globally in 150+ languages, Shufti Pro is serving customers in 230+ countries and territories.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220315005910/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Elliptic Sets the Engineering Bar for On-Chain Risk With “Built for Compliance” Paper as New Rules Take Hold and Banks Launch a Joint Stablecoin1.10.2026 15:40:00 CEST | Press release
Built for compliance arrives as crypto compliance rules tighten worldwide and a bank-led stablecoin enters the market Elliptic, the global leader in on-chain risk management, today published Built for compliance, a paper setting out the nine engineering decisions that determine whether an on-chain risk system can support fast, accurate and defensible compliance decisions at agentic scale. Machines are already moving money on their own, at machine speed. Compliance teams now have to make hundreds of thousands of decisions a day, at that same speed. However, many on-chain risk systems were never engineered to support that pace. A compliance system that computes exposure on a schedule delivers stale results. One that defines blockchain coverage loosely enough lets a screening miss exposure entirely. A system that skips testing disaster recovery, a spike or an outage, takes down the customer’s compliance system too. That gap between machine speed and system design is exactly what regulator
Impartner Releases AI Ecosystem Playbook to Help Organizations Move from AI Experimentation to Execution1.10.2026 15:00:00 CEST | Press release
The AI Ecosystem Playbook provides a practical framework for assessing AI readiness, identifying high-value opportunities, addressing foundational gaps, and building a roadmap for AI adoption. Impartner, the world’s leading partner revenue orchestration platform, today announced the release of its AI Ecosystem Playbook, a new resource designed to help leaders and teams assess their current AI capabilities, identify areas where AI can support business goals, and develop a practical path to implementation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261001661549/en/ Impartner’s AI Ecosystem Playbook helps organizations assess AI readiness and identify opportunities to apply AI across PRM 3.0, partner revenue orchestration, and the partner lifecycle. As AI moves from experimentation into everyday operations, companies need more than a collection of potential applications. They need a framework for understanding where they ar
Whiteford Adds Six Partners in New York City, Expanding its Litigation, International and Corporate Practices1.10.2026 15:00:00 CEST | Press release
Lateral group joins growing Midtown Manhattan office as firm pursues targeted expansion strategy Whiteford, Taylor & Preston, a full-service law firm with offices across the East Coast, today announced that six partners from Chambers-rated Lazare Potter Glazer & Moyle LLP have joined Whiteford’s New York office: David E. Potter, James F. Moyle, Johannes K. Gäbel, Jaipat Singh Jain, Anna Pia D. Felix and Jacob Englander. This team expands Whiteford's New York office to more than two dozen attorneys and deepens the firm's commercial and securities litigation, employment, cross-border and corporate capabilities in the New York market. The six partners bring decades of combined experience representing mid-market companies, investment advisers, hedge funds, foreign corporations, entrepreneurs and executives in litigation, regulatory investigations, and complex business transactions. "We are expanding with our clients, our markets and our reputation," said Martin Fletcher, Whiteford's Managi
Skechers Enters Super Shoe Era With Innovative Skechers AERO Elite1.10.2026 14:20:00 CEST | Press release
Groundbreaking Design Gives Elite Runners the Performance to Break Barriers and Records in Any Race Skechers is redefining what it means to run fast with the Skechers AERO Elite. The latest addition to the innovative Skechers AERO Series makes its global racing debut today—marking a landmark moment as the performance brand’s first super shoe. Engineered to perform from 5Ks to marathons, the design minimizes weight and maximizes responsiveness, all while delivering Skechers’ signature comfort. The AERO Elite is built to win with the performance runners at any level need to go further, faster, and achieve that next personal record. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261001865320/en/ Introducing the Skechers AERO Elite, the brand’s first super shoe designed for racing. “The Skechers AERO Elite is the culmination of years of elite-level running innovation—our most technically advanced running shoe to date and a direc
Visa Data Shows Stablecoins Gaining Traction in Business Payments1.10.2026 14:00:00 CEST | Press release
New Visa data shows nearly 17%1 of stablecoin-linked card volume is occurring across business and commercial card programs, underscoring growing adoption of stablecoins for settlement, treasury management and cross-border commerce. Today, Visa (NYSE: V) shared new data showing the growing adoption of stablecoins across business payments and commercial card programs, underscoring how stablecoins are increasingly being used as financial infrastructure. The findings come as businesses, financial institutions and payment providers increasingly explore stablecoins for settlement, treasury management, payouts and cross-border commerce. New Visa data shows: Approximately 17% of stablecoin-linked card volume in FY26 year-to-date occurred across business and commercial card programs. Visa today supports more than 160 stablecoin-linked card programs spanning consumer, business and commercial card activity. Payments volume across these programs has grown nearly 200% year over year. Businesses are
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom