ValidatedID Raises €2 Million in Financing Round to Internationalise VIDsigner and Develop VIDchain

As its name suggests, ValidatedID is an identity verification company that specialises in online identity, e-invoice, and online signature. Recently, the Barcelona-based company has generated €2 million in funding with the help of Randstad Innovation Fund and Caixa Capital Risc. In addition, founders, former partners, and Cuatrecasas (a Barcelona-based leading law firm) participated in the funding round.

The Internationalisation of ValidatedID Tools

To start, VIDsigner is an online signature service. Conveniently, users can attach it to their platforms through Representational State Transfer API aka REST API. Companies can use VIDsigner for face-to-face and remote cases. Further, ValidatedID offers various signature methods which complement each other according to the client needs.

Over the years, VIDsigner has built a reputation for safe, down-to-earth online signature services with high licit and security standards. Additionally, according to Validated ID, ‘It is being used by over 100 partners and over 1000 clients… and the company has maintained a steady three-digit growth.’

The Current State of VIDchain

The ValidatedID team integrated online ID services into blockchain to create VIDchain for activities that require ID verification. 

Further, public administration, medicine and education industries have immensely accepted the VIDchain. The service is predicted to positively impact IT, personnel, support functions, and operational costs, to mention a few. 

Also, VIDchain would reduce fraud and fake products significantly. Strategically, the startup designed the tool to comply with General Data Protection Regulation (GDPR) standards, enhancing processes like KYC, customer onboarding, and AML.

What’s next for ValidatedID? 

Next, ValidatedID is planning to internationalise VIDsigner services with the newly raised €2 million and establish its influence in the rising blockchain-based digital identity (SSI) industry.

Takeaway points

  • Validated ID, a Barcelona-based company, has generated €2 million in funding round with the help of Randstad Innovation Fund and a co-investor, Caixa Capital Risc.
  • So far, over 100 partners and over 1000 clients use VIDsigner, and the company maintains steady growth. 
  • VIDchain is getting immense acceptance across various sectors, such as public administration,  medicine, and education.

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