Ubble raises €10M+ and forms a partnership despite lockdown!
While the lockdown for many has presented numerous challenges, for ubble it has been a time of great opportunity. During the several months of confinement, ubble, a company making online ID verification stronger than a face to face check, has raised more than 10 million euros from Partech and Breega to finance their ambition and become a leader in their sector. What's more, the company also signed a partnership with Bpifrance, after it was persuaded of the value of ubble's automated verification system. Bpifrance put this system to good use in just 2 weeks, using ubble's identity verification solution to ensure the validity of applications for cash support loans following the pandemic.
ubble provides the solution to a problem that is greatly growing in significance: the reliability of remote identity verification. ubble uses video live streaming and AI in real time for both ID documents and facial recognition, because it is the only way to interact and guide the user, detect ID document's movements, plasticity and holograms, while also assessing face likeness and face matching properly.
The funds will allow ubble to conquer new French and European markets while also strengthening its team. By the end of 2020, ubble expects to have filled 15 positions within its team, notable in the Sales & Marketing sectors in order to accelerate 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, explains: "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".