# APLY

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/aply-2

- Industry: Software
- Headquarters: Auckland, New Zealand
- Website: www.aplyid.com
- Total disclosed funding: $5M
- Latest round: Series A (Oct 28, 2021)
- Investors on record: 2

## About

APLY Limited delivers advanced onboarding solutions emphasizing Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance through a high-speed biometric identity verification system.Founded in 2018 in Auckland, New Zealand, APLY Limited provides cutting-edge identity verification solutions. The company has successfully secured funding through 2 deals, including a Series A round led by Octopus Investments, raising a total of NZD 7.000 mn. APLY Limited is co-founded by Claudia Smith, with Gunwoo Lee and Russell Smith serving as CEO.APLYiD specializes in advanced onboarding solutions focusing on AML and KYC compliance. Their primary offering is a biometric identity verification system that enables businesses to authenticate customer identities in under 90 seconds. The system utilizes Optical Character Recognition (OCR) technology to process over 16,000 ID types, capturing customer details and verifying them against global government databases. Additionally, APLYiD integrates biometric analysis, assessing over 30,000 facial vectors to ensure the authenticity of client selfies during verification. Their solutions cater to various sectors, including financial services, real estate, and rental agencies, serving clients across the UK, Australia, and New Zealand.APLYiD generates revenue primarily through subscription-based models and partnerships with businesses requiring compliance solutions. The typical engagement structure includes an initial setup fee followed by recurring subscription payments for continued access to their biometric verification platform. Their pricing plans are scalable to meet the needs of clients ranging from small businesses to larger enterprises. APLYiD's flagship product enhances customer onboarding efficiency while ensuring compliance with AML and KYC regulations.APLY Limited is focusing on launching new products designed to enhance their biometric verification services, although specific release dates are not provided. The company aims to expand its market presence into regions beyond its current operations, specifically targeting growth in Asia-Pacific markets by 2025. Recent funding will be directed towards supporting these expansion initiatives and product development, with an undisclosed amount of venture funding raised from new investor Pipeline Capital.

## Funding rounds

- Series A, Oct 28, 2021, $5M — Octopus Investments, Tribe Global Ventures

## Investors

- Octopus Investments (https://capitalatlas.ai/funds/octopus-investments) — Series A
- Tribe Global Ventures (https://capitalatlas.ai/funds/tribe-global-ventures) — Series A