# Ondato UAB

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ondato-uab

- Industry: Financial Services
- Headquarters: Vilnius, Lithuania
- Website: www.ondato.com
- Total disclosed funding: $6.2M
- Latest round: Seed (Oct 26, 2021)
- Investors on record: 3

## About

Ondato UAB provides innovative digital identity and age verification solutions, focusing on KYC and AML compliance services. The company aims to streamline the onboarding process while enhancing security and minimizing fraud risks for its clients.Founded in 2016 and headquartered in Vilnius, Lithuania, Ondato UAB specializes in digital identity verification services. The company operates independently and has successfully closed two deals to date. In October 2021, Ondato raised EUR 3.6 million in Seed funding, led by investors OTB Ventures and LitCapital. The current CEO, Liudas Kanapienis, oversees the company's strategic direction.Ondato offers a suite of digital identity and age verification solutions, including automated identity verification, business onboarding, transaction monitoring, and age verification services. Their products are designed for various sectors like telecommunications, finance, and e-commerce, enabling clients to comply with regulations while ensuring efficient user onboarding and minimizing compliance risks.In 2023, Ondato reported a revenue of EUR 7,148,543, while the EBITDA for the same year was EUR -721,207. Their business model is based on subscriptions, where services range from identity verification at EUR 1.40 to business onboarding starting at EUR 600 per transaction.Ondato plans to utilize the EUR 3.6 million raised during their latest funding round to expand their operations and product development. The company is focusing on enhancing its offerings and customer acquisition in Europe and the US, with aims for new market expansions by early 2022. Additionally, there are plans for upcoming product launches designed to further increase their market presence.

## Funding rounds

- Seed, Oct 26, 2021, $4.2M — LitCapital, Startup Wise Guys, OTB Ventures
- Seed, Dec 19, 2020, $2M — Startup Wise Guys, OTB Ventures

## Investors

- Startup Wise Guys (https://capitalatlas.ai/funds/startup-wise-guys) — Seed
- OTB Ventures (https://capitalatlas.ai/funds/otb-ventures) — Seed
- LitCapital (https://capitalatlas.ai/funds/litcapital) — Seed