Digital Identity Platform Bureau Raises $12 Million Led by Quona

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Digital identity platform Bureau raises $12 million led

by Quona Bureau, the digital identity verification and fraud protection platform, has raised USD 12 million in a series-A funding round led by Quona Capital with participation from Commerce Ventures and Okta Identity.

Bureau, the digital identity verification and fraud protection platform, has raised USD 12 million in a series-A funding round led by Quona Capital with participation from Commerce Ventures and Okta Identity.

This funding round also had participation from strategic angels like Mark Britto of Paypal, and Bobby Mehta of ex-Transunion fame, the startup said in a statement on Thursday.

Bureau had raised a seed round of USD 4.2 million in August 2020 from XYZ Ventures, Blume Ventures, Village Global, EMVC, and Sweat Equity Ventures, who have invested in the seriesA round as well, added.

The funds will be used to enhance products and establish a wider footprint in India, and Southeast Asia, it said, adding a portion of the money will also go into doubling upon its

current capabilities for customer on-boarding and launch solutions including account takeover prevention, transaction monitoring, and solving return-to-origin and chargebacks use cases.

Bureau was founded by serial entrepreneur Ranjan Reddy in 2020, just as the pandemic was pushing the world towards digital transactions. Since then it has been helping businesses automate their decisions, customer on-boarding, prevent fraud, and offer a seamless user experience.

Bureau verifies identities, fights fraud, and generates trust in both businesses and consumers.

"Bureau seamlessly protects and accelerates user journeys using only a mobile number.

Digital interactions become smoother, swifter, and more secure," said Reddy.