Digitalization is an issue that is now part of the everyday life of many people. Security and identity verification have become important issues for both individuals and companies. Nufi seeks to address these challenges, and to achieve this they recently raised a seed round of 1.5 million dollars.

The round was led by GPCompas and Magma Partners, with the participation of Semilla Ventures, Ganas Ventures, Techstars Follow Up Fund and AngelHub, as well as angel investors.

Founded in the city of Monterrey by Ilich Nuñez and Hans Villa, Nufi specializes in offering services to various industries that require verifying the identity of its users quickly, accurately and securely, providing solutions that not only improve the efficiency of verification processes, but also guarantee a high level of security to protect sensitive data, according to company information.

“Nufi is a platform that allows you to validate the identity of any person or company in Mexico in less than five minutes, so you can make a decision whether you trust or nom this helps organizations when making a loan, for example,” Hans Villa, CEO and co-founder of Nufi, told Contxto.

Expanding services nationwide

With the funds raised, the startup plans to expand its services nationwide. “We are going to expand our national coverage, improve our document processing and business registration products, and continue building a more secure, fast and reliable digital identity for all of Mexico,” said Villa.

Additionally, the capital injection will allow them to boost their operations and accelerate the development of their specialized identity verification platform for individuals and businesses.

“This additional round allows us to accelerate what we have already been building state-of-the-art technology to validate people and companies in less than 5 minutes,” added Villa.

The round comes at a time when venture capital investment in Mexico fell more than 90% in January, according to TTR Data.

Nufi’s case shows that it is possible to raise capital when executed with focus and results. While many startups face barriers, the company’s claim that it is solving a real problem with technology that already works is still the best calling card.

“At GPCompas we invest in solutions with tangible impact. Nufi solves a challenge faced by many industries, and it does so with technology that is already proven. Even our allied companies have integrated its solution,” emphasized Braulio Arsuaga, founder of GPCompas.

For now, Nufi operates exclusively in Mexico, where it has consolidated its client base in different industries, such as human resources, real estate, supplier registration and fintech, which use the service to find out if a person is granted credit, opens an account or is given a financial product.

Source: Contxto - México