Article
Ver.iD raises €2 million to simplify wallet integration
With backing from angel investors, we are developing our platform and strengthening our team. This helps organisations connect different wallets for login and verification.
By the end of 2024, we had raised a total of €2 million from angel investors. The founders funded the launch of Ver.iD themselves; private investors subsequently joined, including through family offices. The funding gives us room to develop the platform further and strengthen our team.
One integration for different wallets
When a customer signs up, organisations often need to establish the customer’s identity or check their information. Customers submit documents, after which the organisation assesses and processes the information. A wallet can help share that information digitally.
In a wallet, you store information as digital credentials and share it with organisations. Each wallet requires its own technical connection. Serving customers who use different wallets therefore becomes a technical challenge for an organisation.
Ver.iD brings those wallet connections together in one platform. An organisation integrates Ver.iD into its website or application and can accept multiple supported wallets. The customer uses a supported wallet; the organisation does not have to build each wallet connection itself.
Login and verification in existing systems
Our focus is connecting wallets for login and verification. A customer can, for example, use a wallet to log in to a portal or share information when signing up. Ver.iD handles the wallet connection and technical verification; the organisation uses the result in its own process.
Through integrations and SDKs, we help developers incorporate those capabilities into their existing systems. Organisations can then use wallets within their own services. They continue to determine which information they need and what they do with the result.
eIDAS 2.0 gives wallets a European foundation
In 2024, that development also gained a legal foundation. On 20 May 2024, eIDAS 2.0 entered into force. The updated European regulation requires Member States to make at least one European Digital Identity Wallet available. People should be able to use it to prove their identity and share information with services in other EU countries. Using the wallet remains voluntary.
The first implementing rules covering the technology and certification of those wallets followed at the end of 2024. Common standards are intended to enable wallets to work across borders. Member States are working towards making their wallets available by the end of 2026.
Certain online services will also be required to accept European wallets, subject to specific conditions and deadlines. This brings a practical question into focus for organisations: how do they connect those wallets to their existing services? We want to help them take that step with wallet integrations for login and verification.
Wallet connections as a starting point for a broader ambition
Connecting wallets is a first step for us. Our ambition is to make reliable information from wallets useful in more processes, from registering a customer to sharing information between organisations.
This funding allows us to continue developing the platform, strengthen our team and work towards expansion in Europe. The wallet connections provide a starting point for developing and testing new applications with organisations.
We thank our investors for their trust, and our team and the organisations we work with for their contribution to that development.
Funding news shared through MT/Sprout
We shared the funding news through MT/Sprout, our media partner for this announcement. On 10 January 2025, Herwin Thole published an interview with co-founder Robert van Altena on MT/Sprout about the investment and Ver.iD’s development.
