Vouchsafe, the next-generation identity verification platform dedicated to solving global ID poverty, today announced the successful £1m close of their oversubscribed pre-seed round.
The round was led by Bethnal Green Ventures (BGV) and supported by Biometric Ventures, Fuel Ventures, Seed X Liechtenstein, along with angel investor Andrew Chevis, CEO of CitizenCard, who brings 30 years of industry expertise.
Solving ID poverty at home and worldwide
One billion people around the world don’t have good photo ID. In the UK, 11 million people have neither a passport nor driving licence.
It’s getting harder to access life’s essentials without identity documents, particularly banking and credit.
Vouchsafe’s work aligns with the United Nations Sustainable Development Goal 16.9, which calls for “Legal Identity for All.”
ID poverty affects people at every stage of life, and contributes to financial exclusion and the poverty premium.
The next generation of identity verification
Vouchsafe’s approach balances accessibility and security in an era of rising fraud risks.
As generative AI makes identity fraud more sophisticated, businesses need smarter, more inclusive ways to verify users without putting up more barriers to access.
To achieve this, Vouchsafe:
Trusted by governments
Vouchsafe is already having an impact and is scaling fast.
They are working with leading financial services firms to apply the technology to banking and credit.
They were also chosen by the Scottish Government to help provide public services to people who struggle with proving their identity, through the CivTech programme.
