ID checking start-up Onfido raises $50m from Softbank Investment

British technology start-up Onfido has raised $50m (£38m) in new funding from investors including Japan’s Softbank Investment (SBI) as it targets growth in the US and South-East Asia.

The company, founded by three Oxford University graduates in 2012, has now raised more than $100m (£76m) for its software, which usesartificial intelligence to check documents and prevent fraud.

The deal brings in new investment from SBI, an early spin-off of Softbank Group, through its dedicated artificial intelligence and blockchain fund. The Telegraph reported the planned SBI investment in January.

The Japanese fund joins current investors, including US software giant Salesforce and Microsoft, that have all…

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