About
Sumsub is a full-stack identity verification and onboarding platform. Hit $86M revenue in 2024 (doubled YoY). Serves 2,000+ clients across 220 countries including crypto exchanges and fintechs. Gartner Magic Quadrant Leader for Identity Verification 2024. Industry-leading conversion rates: 91.6% US, 95.9% UK, sub-50-second average verification. 615 employees with offices in Miami, Singapore, Dubai.
Key Facts
- [1]Founded: Founded in 2015 in London, United Kingdom.
- [2]Funding: Total funding: $37M. Last round: Sep 2024. Stage: Growth.
- [3]Customers: Key customers include Mercuryo, TransferGo.
- [4]Employees: Employee count: 201-500.
- [5]Website: Official website: sumsub.com.
- [6]AI Technology: Core AI/ML technologies: Computer Vision.
- [7]Region: Region: EMEA (United Kingdom).
Founders
Andrew Sever
Co-founder & CEO
Peter Sever
Co-founder & CTO
Yakov Karda
Co-founder
Key Customers & Partners
AI Technology
Computer Vision
Image and video processing, OCR, and document extraction
Classification
Details
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Frequently Asked Questions
What is Sumsub?
Sumsub is a full-stack identity verification and onboarding platform. Hit $86M revenue in 2024 (doubled YoY). Serves 2,000+ clients across 220 countries including crypto exchanges and fintechs. Gartner Magic Quadrant Leader for Identity Verification 2024. Industry-leading conversion rates: 91.6% US, 95.9% UK, sub-50-second average verification. 615 employees with offices in Miami, Singapore, Dubai. Sumsub is classified in the Risk & Compliance segment at the Models layer of the financial AI stack.
Who founded Sumsub?
Sumsub was founded by Andrew Sever (Co-founder & CEO), Peter Sever (Co-founder & CTO), and Yakov Karda (Co-founder) in 2015 in London, United Kingdom. The company has been operating for 11 years.
How much funding has Sumsub raised?
Sumsub has raised $37M in total funding, placing the company at the Growth stage. The most recent round closed in Sep 2024. Among 74 funded Risk & Compliance companies, Sumsub ranks #52 by total capital raised. (Source: AIFI Map directory.)
What AI technology does Sumsub use?
Sumsub primarily leverages Computer Vision technology. Image and video processing, OCR, and document extraction. Within the Risk & Compliance segment, 17 companies use this technology.
What market segment does Sumsub operate in?
Sumsub operates in the Risk & Compliance and Lending & Credit and Banking & Payments and Crypto & Web3 market segments. AI risk and compliance companies protect financial institutions from fraud, money laundering, identity theft, and regulatory violations. This is one of the largest and most critical segments in the AI finance landscape, as the cost of financial crime and non-compliance runs into the hundreds of billions annually. The company also has a footprint in lending & credit and banking & payments and crypto & web3, reflecting its cross-functional approach to financial AI.
Where is Sumsub headquartered?
Sumsub is headquartered in London, United Kingdom. The company operates in the EMEA region. The team consists of 201-500 employees. United Kingdom is home to 33 financial AI companies tracked by AIFI Map.
Who are Sumsub's competitors?
Companies similar to Sumsub in the Risk & Compliance space include Feedzai ($431M raised), Sardine ($170M raised), Hawk AI ($83M raised), Resistant AI ($55M raised), Flagright ($8M raised). These companies operate in related areas of financial AI: Feedzai focuses on ai-native fraud and financial crime prevention platform for major banks. Sardine focuses on ai risk platform for fraud, credit, and compliance. Hawk AI focuses on ai-powered aml and fraud detection for banks and fintechs. (Based on AIFI Map classification data.)
What products does Sumsub offer?
Sumsub builds models-layer solutions for the financial services industry. The company's core offering: AI all-in-one verification platform. The platform is powered by Computer Vision technology. Notable users include Mercuryo, TransferGo.