June 25th, 2020
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Despite the lockdown and the company's young age, ubble successfully raised funds from Partech and Breega to complete its seed round, bringing its total financing to more than €10M. This will finance their ambition and become a leader in their sector. During the lockdown period, ubble also signed a partnership with Bpifrance, which now uses its identity verification solution to ensure the validity of applications for cash support loans following the Covid-19 crisis.
100% digital, reliable and fast identity verification
With the increasing digitalization of services, the reliability of remote identity verification is becoming a major issue. Opening a bank account, getting a temporary contract, becoming a delivery man/broker... all these actions can now be carried out remotely, in a completely automated way.
The ubble solution is based on its live streaming video and artificial intelligence technologies. The user is prompted to capture a live video of his face and ID documentation. The recordings are then analyzed in real time by algorithms that assess the authenticity of the document and its correspondence with the user's face. Their conclusions are then validated by ubble's anti-fraud experts.
UX and the fight against fraud at the heart of the ubble value proposition
Identity verification, guided in real time by AI, becomes a fun, interactive and fast experience for the user. The use of video technology makes it possible, unlike a photo, to combat identity theft more effectively. Holograms, plasticity and rigidity of IDs are checked by ubble algorithms. With its solution, ubble makes remote identity verification as reliable as in real life, but more convenient and enjoyable for everyone.
A partnership with Bpifrance
Convinced by the usefulness of ubble's technology, Bpifrance decided to integrate its solution into its user path. ubble thus demonstrated its flexibility, integrating in just two weeks its unique system for verifying the identity of entrepreneurs impacted by the crisis linked to the Covid-19 epidemic and applying for support loans.
A French solution that complies with regulations and respects the data
ubble has been built in compliance with current European regulations, notably the GDR and eIDAS, offering opportunities for continental expansion. The startup also intends to obtain certification of its solution by ANSSI in 2020 to speed up its development in the regulated French sectors: banking, credit, insurance...
ubble has already convinced several major players of the value of its solution, including Carrefour Banque, Sofinco (Crédit Agricole Group), the neo-bank Kard, the VTC Heetch driver platform and digital temporary employment agencies such as Iziwork and Side.
Conquering the French and European markets and strengthening its teams
This fundraise will enable it to recruit new talent and to break into European markets. Fifteen positions will be filled by the end of the year, notably in the Sales & Marketing teams to accelerate their development.
Juliette Delanoe, co-founder of ubble, said: "This new fund raising and this project with Bpifrance are for us another step in the conquest of the European identity verification market. We are confirming our desire to become a leader in French and European technology: combining cutting-edge technology, compliance with French and European regulations and respect for user data".
Boris Golden, Principal at Partech, tells his favorite story: "Our first reaction when we heard about ubble was: 'another identity verification startup'! However, we couldn't imagine that such an exceptional & expert team would have launched itself without having identified a huge opportunity. And indeed, ubble had an incredible strategic vision and audacity: to spend several years building a deeply differentiated technology, without worrying about existing offers that did not bet on a strong technological core. With the growing demands of customers and regulators, ubble's positioning is proving its relevance and deep added value every day".
Isabelle Gallo, Partner at Breega adds "We are delighted to support ubble in its conquest of new markets. To date, ubble is the most reliable and user-friendly solution offering online identity verification via real-time video. Obtaining the ANSSI certificate would enable it to accelerate the digital transformation of a large number of traditional banking and financial institutions and eventually become a global reference in identity verification".
ubble is a French start-up founded in 2018 by alumni of Gemalto, Criteo and Google. Its objective is to fight identity fraud on the Internet by relying on artificial intelligence and video streaming technologies. It enables companies to verify the identity of users in a simple, reliable, secure and privacy-friendly way. To find out more: ubble.ai
With a portfolio of almost 180 companies spread across 30 countries in Europe, the US, Africa, and Asia, Partech has been one of the leading international investors helping visionary founders for almost 40 years. The Partech team – made up of both former entrepreneurs and executives from 15 different countries – brings capital, experience, strategic support, and networks to entrepreneurs at every stage of development: seed, venture, and growth. With over €1.5B under management, Partech invests from €200K to €50M in B2B and B2C technologies reshaping industries. Companies backed by Partech have completed more than 21 IPOs and more than 50 strategic M&A transactions valued over $100M.
See Partech's current portfolio: https://partechpartners.com/companies/
Breega is a young investment fund that provides Seed / Series A financing to European high-tech start-ups. Breega is more than just an investor. Created by entrepreneurs for entrepreneurs, it accompanies the startups in its portfolio at every stage of their development and offers them free operational expertise (HR, biz dev, marketing and legal) as well as international development opportunities. Breega is notably an investor in Exotec Solutions (robotics), Ibanfirst (fintech), uDelv (autonomous vehicle), FoodChéri (foodtech), Curve (fintech) and Fretlink (marketplace). For more information: https://breega.com/
Ubble: Arthur Magnes | firstname.lastname@example.org | 06 88 61 63 85
Partech : Isabelle Tresson | email@example.com | 07 86 08 85 85
Breega: Helen O'Reilly-Durand | firstname.lastname@example.org | 06.24.36.82.21