# Sum And Substance Ltd (UK)

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sum-and-substance-ltd-uk

- Industry: IT Security/Cybersecurity
- Headquarters: London, UK
- Website: www.sumsub.com
- Total disclosed funding: $0.7M
- Latest round: Seed (Oct 17, 2017)
- Investors on record: 3

## About

Sum And Substance Ltd is a UK-based identity verification platform that streamlines the management of identity operations for businesses, ensuring compliance with regulations through advanced AI technology.Founded in 2015 in London, UK, Sum And Substance Ltd provides identity verification services. The company raised USD 6 mn in a Series A funding round led by MetaQuotes Software Corp. on September 8, 2020, totaling USD 6 mn raised. The founders, Andrew Sever, Andrey Sever, Jacob Sever, Peter Sever, and Vyacheslav Zholudev, have previously established successful ventures in the tech industry.Sumsub offers a comprehensive identity verification platform that enables businesses to manage identity operations through a configurable system. The platform utilizes adaptive AI for secure identity checks, KYC compliance, and transaction monitoring in real-time across various sectors, including FinTech and e-commerce. Key features include document verification and fraud detection algorithms, serving clients globally, particularly in Europe, North America, and Asia.In 2023, Sumsub reported a revenue of USD 54.96 mn with an EBITDA of USD 2.14 mn. Their subscription-based model provides tiered pricing based on services utilized, catering to both large enterprises and smaller businesses.Following the Series A funding in September 2020, Sum And Substance Ltd plans to leverage the raised capital to enhance its product offerings and expand into new markets. The company aims to launch additional features designed for specific industries by mid-2024 and is targeting growth within emerging markets in Asia and Africa by 2025.

## Funding rounds

- Seed, Oct 17, 2017, $0.7M — United Capital Partners, Flint Capital, Pretiosum Ventures

## Investors

- United Capital Partners — Seed
- Flint Capital (https://capitalatlas.ai/funds/flint-capital) — Seed
- Pretiosum Ventures (https://capitalatlas.ai/funds/pretiosum-ventures) — Seed