European fintech start-up Duna raises one other €30m

Duna’s co-founders Duco van Lanschot and David Schreiber each had senior roles at Stripe previously.

Dutch-German fintech start-up Duna has raised €30m in a Collection A funding spherical led by CapitalG, an funding arm of Google mum or dad firm Alphabet.

The spherical additionally included present buyers like Index Ventures and Puzzle Ventures, and brings whole funding for Duna to greater than €40m since its launch in 2023.

The corporate was co-founded by Duco van Lanschot and David Schreiber, who every beforehand had senior roles at funds firm Stripe.

Duna goals to simplify and standardise consumer and enterprise expertise round identification and compliance. It mentioned it’ll “construct international belief infrastructure by offering a digital passport for each enterprise” and create “a community for shareable identification and one-click onboarding” by its AI-native enterprise identification platform.

Its goal buyer base encompasses regulated firms equivalent to giant banks, fintechs and different monetary establishments.

“Duna is addressing one of many web’s largest unsolved issues: identification,” mentioned van Lanschot. “Compliance and identification now eat as much as 10-20pc of a financial institution’s whole prices.

“The costly and guide legacy programs result in billions misplaced in fraud, friction and fines, in addition to misplaced revenue from refusals of authentic clients.”

The platform goals to extend organisations’ consciousness of their clients’ identities and actions to assist deal with points equivalent to cash laundering.

“The necessity for a safe enterprise identification has by no means been extra pressing: AI has many advantages, but it surely additionally allows an acceleration within the velocity and class of fraud,” mentioned Schreiber.

“Duna will assist firms root out this fraud. We’re turning a decades-old compliance price centre right into a core income driver.” Duna’s clients embody the likes of Plaid, Adyen and Bol.

Except for enterprise fund funding, the corporate has backing from people with profession backgrounds and expertise on the likes of Goldman Sachs, Anthropic, Stripe and Snowflake.

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