Onfido, an Entrust company
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Onfido, founded in London in 2012 by Oxford students Husayn Kassai, Eamon Jubbawy and Ruhul Amin, was a global leader in automated digital identity verification. Its Real Identity Platform let businesses verify users' real identities through a smartphone camera, comparing facial biometrics with identity documents using machine learning, optical character recognition and face detection, alongside sanctions and right-to-work checks. By 2024 it reported over $130 million in annually recurring revenue, more than 500 employees and over 1,200 customers worldwide.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
Onfido was founded in London by Oxford students Husayn Kassai, Eamon Jubbawy and Ruhul Amin, winning early backing from angel investors.
- Series A
Onfido raised $4.5 million in a Series A funding round to expand the business.
- Growth round
Onfido raised $100 million from TPG Growth, having performed almost ten million identity and background checks by 2016.
- Acquired by Entrust
In February 2024 Entrust announced exclusive discussions to acquire Onfido; on April 9, 2024 Entrust announced the acquisition for $650 million in an all-cash deal, folding Onfido into its identity-security portfolio.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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