# Shufti Pro

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shufti-pro

- Industry: Software
- Headquarters: London, UK
- Website: www.shuftipro.com
- Total disclosed funding: $20M
- Latest round: Series A (Mar 15, 2022)
- Investors on record: 1

## About

Based in London, UK, and founded in 2017 by CTO Shahid Hanif, Shufti Pro Limited operates as a digital platform used for identity verification solutions, including AI-based KYC, AML, and KYB to prevent fraud and adhere to regulatory compliance and customer onboarding. In March 2022, Shufti Pro Limited raised USD 20 million in a Series A funding led by Updata Partners. As of March 2022, Victor Fredung is the CEO of Shufti Pro Limited.

Shufti Pro’s product line includes KYC identity verification, AML screening, and corporate verification. The KYC identity verification includes face verification, document verification, address verification, 2-factor authentication, and consent verification. The AML screening offers AML for businesses, on-going AML for business, and AML dataset. In addition, the corporate verification product provides know your business, investor verification service, NFC verification, on-premises identity verification, OCR for business, video interview KYC, and biometric authentication services.
Shufti Pro’s client base includes companies from different industries, including crowdfunding, financial services, gaming, P2P, telecommunication, travel, healthcare, and more. The company will use the funding to advance its global expansion, provides additional resources to its automated solution to new markets, enhance its solutions and extend the company’s compliance suite. In addition, Shufti Pro provides multiple mobiles and web integrations for its clients for the identity verification of its customers and employees.

The company generates revenue from the subscription of its product packages, which include KYC Solution (USD 1,500 for 500 verifications per month), AML Checks (USD 450 for 500 verifications per month) KYB solution (USD 1,000 for 500 verifications per month), Video KYC Solution (USD 8,500 for 1,000 verifications per month), and OCR For Business (USD 425 for 500 documents per month).

The company plans to use its proceeds from March 2022 funding to enhance product development and accelerate expansion into the US market.

## Funding rounds

- Series A, Mar 15, 2022, $20M — Updata Partners

## Investors

- Updata Partners (https://capitalatlas.ai/funds/updata-partners) — Series A