iDenfy Company Profile

Background

Founded in 2016 and headquartered in Kaunas, Lithuania, iDenfy is a technology company specializing in identity verification, fraud prevention, and compliance solutions. The company's mission is to create a safer digital environment by providing businesses with tools to verify identities and prevent fraudulent activities. iDenfy serves a diverse range of industries, including fintech, cryptocurrency, gaming, online gambling, and transportation.

Key Strategic Focus

iDenfy's strategic focus centers on delivering comprehensive identity verification and fraud prevention services. The company offers solutions such as address and business verification, anti-money laundering (AML) compliance, proxy detection, fraud scoring, and sanctions screening. By leveraging artificial intelligence, biometric authentication, and liveness detection technologies, iDenfy aims to provide accurate and efficient verification processes. The primary markets targeted include fintech, cryptocurrency, gaming, online gambling, and transportation sectors.

Financials and Funding

As of 2022, iDenfy reported a revenue of €2.4 million, with a net income of €732.6K. In March 2025, the company secured $1.1 million in funding, bringing the total funds raised to $1.1 million. The capital is intended to enhance product offerings, expand market reach, and invest in technological advancements.

Technological Platform and Innovation

iDenfy's platform integrates advanced technologies to provide robust identity verification and fraud prevention services. Key components include:

Artificial Intelligence (AI): Utilized for document analysis and fraud detection, enhancing the accuracy and efficiency of verification processes.

Biometric Authentication: Incorporates facial recognition and liveness detection to ensure the authenticity of users.

Compliance Tools: Offers AML compliance, sanctions screening, and fraud scoring to help businesses meet regulatory requirements.

These technologies enable iDenfy to deliver secure and efficient identity verification solutions across various industries.

Leadership Team

Domantas Čiuldė, Co-Founder and Chief Executive Officer: Oversees the company's strategic direction and operations.

Andrius Šulskis, Chief Technology Officer: Leads the technological development and innovation initiatives.

Darius Šultė, Chief Business Development Officer and Chief Sales Officer: Manages business development and sales strategies.

Viktor Vostrikov, Chief Business Officer and Chief Marketing Officer: Directs business operations and marketing efforts.

This leadership team brings a wealth of experience in technology, business development, and marketing, driving iDenfy's growth and innovation.

Competitor Profile

Market Insights and Dynamics

The identity verification and fraud prevention market is experiencing significant growth, driven by increasing digital transactions and stringent regulatory requirements. Businesses across various sectors are investing in robust verification solutions to mitigate fraud risks and ensure compliance.

Competitor Analysis

iDenfy operates in a competitive landscape with several key players:

Jumio: Specializes in identity verification and authentication solutions, serving industries such as finance, healthcare, and retail.

Onfido: Provides AI-powered identity verification services, focusing on document verification and biometric authentication.

Veriff: Offers identity verification services with a focus on user experience and compliance, catering to various industries.

These competitors leverage advanced technologies to offer comprehensive identity verification solutions, contributing to a dynamic and evolving market.

Strategic Collaborations and Partnerships

iDenfy has established strategic partnerships with companies such as Reppublika Data Analytics & Technologies GmbH, evemo, and Business Arena Limited. These collaborations aim to enhance service offerings, expand market reach, and drive business growth.

Operational Insights

iDenfy differentiates itself through a combination of AI-driven technologies, biometric authentication, and compliance tools. The company's ability to integrate with over 2,000 applications and its focus on user experience provide a competitive edge in the identity verification market.

Strategic Opportunities and Future Directions

Looking ahead, iDenfy aims to capitalize on the growing demand for identity verification and fraud prevention solutions. The company plans to invest in technological advancements, expand its product portfolio, and strengthen strategic partnerships to enhance its market position and drive future growth.