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SumSub

Functionality

End-to-End Due Diligence

Description

Sumsub is a global verification provider offering KYC, AML, and compliance solutions for crypto and fintech.
Cyprus
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Bio

Founded in 2015, Sumsub is a global verification platform providing KYC, AML, and fraud prevention solutions. It helps businesses securely onboard users, monitor transactions, and comply with regulations worldwide.

Year Founded

2015

Locations

Cyprus

Key Market

Financial Services

Features

Adverse Media

Document Verification

Ongoing Monitoring

Screening

Transaction Monitoring

Market Focus

Segmentation

  • SME

Target Markets

  • Fintech
  • Transportation
  • Crypto
  • Carsharing
  • Marketplaces
  • iGaming
  • Trading
  • Payment

Local Group

  • Onfido
  • ComplyAdvantage
  • Veriff
  • Idenfy
  • Sanction Scanner

Data sources and Integrations

  • Unilink
  • Web SDK
  • Mobile SDK
  • API

Market Map

Sumsub Market Map

Strengths

  • The website is designed to be very user-friendly.
  • It has received excellent ratings on Glassdoor, with a score of 4.2.
  • Users are usually verified in under 50 seconds, which improves the user experience.
  • A broad range of identity verification solutions is offered, tailored to various sectors.
  • The service complies with regulatory requirements in multiple jurisdictions, ensuring the safety of businesses.

Weaknesses

  • The on-boarding process may be overwhelming for some businesses unfamiliar with verification systems.
  • While it offers valuable services, the pricing may be high for smaller businesses.
  • Changing laws and regulations in various markets could impact Sumsub's operational strategies.

Pricing

Sumsub offers three pricing plans:
  1. Basic Plan: $1.35 per verification; $149 minimum monthly commitment. Ideal for non-regulated businesses.
  2. Compliance Plan: $1.85 per verification; $299 minimum monthly commitment. For regulated businesses with AML screening.
  3. Enterprise Plan: Custom pricing based on specific needs.

A 14-day free trial is available, with add-on costs for extra services.

Aventine Rating

Aventine Comment

The Sumsub website is truly impressive, showcasing a strong value proposition for all segments. I'm particularly struck by their Glassdoor rating of 4.7—kudos to their exceptional executive team!

Raised

N/A

Round Details

Sumsub has raised a total of $37.5 million in funding across three rounds

  • Series B: $30 million (Dec 15, 2022)
  • Series A: $6 million (Dec 8, 2019)
  • Seed Round: $1.5 million (Oct 19, 2017)

Investors

Flint Capital

Executives

Andrew Sever
Co-Founder & Chief Executive Officer
Jacob Sever
Co-Founder & Chief Innovation Officer
Peter Sever
Co-Founder & Chief Strategy Officer
Vyacheslav Zholudev
Co-Founder & Chief Technical Officer
N/A