New Nordic Ventures invests in Latvian fintech Verifeye Online

Riga-based New Nordic Ventures has invested in the Latvian verification platform for banks and other financial institutions Verifeye Online. The amount of funding was not disclosed, but New Nordic Ventures typically invests between €200K and €300K in the early stages.

UPD: Verifeye.online was founded by Christopher Gray, who is also the startup’s CEO. The company has its only office in Riga. Bernt Corneliussen officially joined Verifeye.online as an investor in 2021 and as a co-owner in 2023. Based in Frankfurt, he serves as the startup's CSO and is responsible for business development and sales.                                                                                                 

Verifeye.online is currently works with 46 banks in Germany and also has several German customers in other sectors. The company provides BaFin-regulated video verification for the German market using German-speaking agents based in Riga.

Verifeye.online has developed a platform that allows European banks and other financial institutions to more easily onboard remote customers and speed up online authentication when setting up bank accounts or applying for other banking products. The company claims that its solution can verify a customer's identity and complete the onboarding process in less than 60 seconds.

The customer must upload their ID and take a selfie, and Verifeye.online then compares the biometrics from the selfie and the ID document image. The technology also enables ID validation via video call.

The startup offers a range of other services, including risk assessment, fraud reports, limit reports with calculation of the account holder's disposable income, and funding reports.

Founded in 2021 by Dmitry Saikovsky and Kirill Jurzditsky, New Nordic Ventures supports seed-stage B2B software startups from CIS or CEE regions. The investment company can provide up to €1,5M in follow-on rounds as a lead investor or co-investor.