BBVA, das-Nano strengthen partnership via capital increase in Veridas
Veridas’ founding partners BBVA and das-Nano have carried out a financing round of EUR 4 million in the company that will serve to continue expanding their business in new markets.
Veridas is active in the field of digital identity verification. The company was created in 2017 as a ‘joint venture’ between BBVA and the Navarran technology firm das-Nano to develop new, more secure and user-friendly customer identification and authentication systems.
Since its inception, the company has grown rapidly. Today, it performs millions of cloud-based identity validation operations and has a robust, reliable, and internationally recognized technology. Its services use self-developed artificial intelligence algorithms and operate in three main areas: document verification, face biometrics and voice biometrics.
The increase in capital by its two founding partners, BBVA and das-Nano, will involve the injection of EUR 4 million into the company. This decision reinforces the support of both companies in Veridas as a business partner and confirms the confidence in the project as a result of its successful track record.
Thanks to this new impulse, Veridas expects to continue increasing its commercial presence in Europe and Latin America, as well as its customer support services, which it plans to extend to new countries in the coming months. In addition, the investment will serve to strengthen its equipment and technological capabilities in order to maintain its leadership among the world’s leading manufacturers of digital identity verification technology.
Eduardo Azanza, CEO and co-founder of Veridas, stated:
“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 ”.
Gonzalo Rodríguez, Director of Business Development at BBVA in Spain adds:
“Veridas has established itself in a short time as a first-rate technology provider in biometric recognition. Thanks to this alliance, BBVA was the first institution in Spain to allow an account to be opened in a completely digital way just by taking a selfie”.