What is Passbase?
Founded in 2018 and based in New York, Passbase offers a developer-friendly and customizable identity verification platform designed to meet stringent KYC requirements. Their solution prioritizes a user-centric and privacy-preserving approach, enabling companies to seamlessly integrate robust identity checks. The platform's flexible pricing and adaptable tools cater to a wide range of businesses seeking to streamline their compliance processes.
How much funding has Passbase raised?
Passbase has raised a total of $17.7M across 3 funding rounds:
Other Financing Round
$600K
Angel/Seed
$3.6M
Series A
$13.5M
Other Financing Round (2019): $600K with participation from EY
Angel/Seed (2019): $3.6M led by Cowboy Ventures, Eniac Ventures, and Seedcamp
Series A (2021): $13.5M supported by Eniac Ventures, Lakestar, Cowboy Ventures, and Costanoa Ventures
Key Investors in Passbase
Eniac Ventures
Eniac Ventures partners with founders at the earliest stages of building transformative technology companies. Its small team of former entrepreneurs brings capital, product insight and a hands on approach, working closely with teams to refine ideas, win early customers and grow durable businesses.
Lakestar
Lakestar is a venture capital firm dedicated to partnering with visionary tech entrepreneurs to fund innovative ideas and companies that shape modern life. They focus on sectors such as Deep Tech, Healthcare, Fintech, and Digitalisation, investing with a long-term perspective from Seed to Growth stages. Lakestar is embedded in the European technology ecosystem, leveraging their extensive connections and expertise to support ambitious founders.
Cowboy Ventures
Cowboy Ventures is a seed fund that supports early-stage startups, particularly in sectors like Enterprise SaaS, Fintech, and AI-Native Software. They provide hands-on assistance in areas such as recruiting, fundraising, and product strategy, aiming to help founders build generational companies.
What's next for Passbase?
With the recent major strategic investment, Passbase is poised for significant growth and expansion. This latest round of financing, contributing to the $17.7M in total capital raised, indicates strong investor confidence in the company's mission to simplify and secure identity verification. The company is likely to leverage this backing to enhance its product offerings, scale its operations, and further penetrate the enterprise market, solidifying its position as a key player in the digital identity and compliance sector.
See full Passbase company page
