Brazilian ID Verification Firm Nets $15 Million in New Funding

Brazilian ID Verification Firm Nets $15 Million in New Funding

July 28, 2022

Brazilian digital identity verification startup CAF has secured a funding round worth more than $15 million. The company, called Combate à Fraude when it was launched in 2019, leverages several advanced technologies, including artificial intelligence, document verification and facial authentication, to verify that online users are who they claim to be.

The investment group includes Ethoca co-founders Darryl Green (who also became CAF’s CEO in 2021), Andre Edelbrock and Trevor Clarke, as well as former LexisNexis CEO Andrew Prozes. The company said the capital will be used to add more than 100 new employees and build out CAF’s platform.

“I’ve been following the Brazilian technology market for a few years now,” said Green. “I am increasingly impressed with the fintech sector development capacity in Brazil, and CAF is a perfect example of a company that is able to compete on a global scale. With our investors, we now have partners that match our ambition for redefining the future of identity with innovation not only in technology but a fundamental shift in the business model.”

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