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Incode Becomes a Unicorn with a Valuation of US$1.25 Billion

The identity verification and authentication startup is backed by General Atlantic, SoftBank and J.P. Morgan

Don't worry, we speak : Español (Spanish), too!

Just one day after the fintech Clara achieved this status, Incode Technologies, joins the club after achieving a valuation of US$1.25 billion. Incode, whose founder is Ricardo Amper, is an identity authentication platform based on Artificial Intelligence (AI).

This happened after the Mexican startup raised US$220 million in a Series B financing round led by General Atlantic and SoftBank Latin America Fund.

Also participating were Coinbase Ventures, J.P. Morgan Technology and Capital One Ventures, as well as Silicon Valley CISO Investments (SVCI), and more than 50 CISOs, Dila Capital, Framework Ventures and DN Capital.

Incode Aims Beyond LatAm

The new capital comes seven months after having received US$25 million in a Series A round. Their next step is to continue growing in Mexico, Europe, the Middle East, the United States, Canada and Latin America.

What has made Incode an attractive platform for investors is that its services allow companies to have a single point of identity. The company explained that this incorporates customers easily and securely for frictionless authentication. 

Incode views one of their great strengths as the fact that they develop their technology in-house and do not use secondary suppliers. They also have a direct relationship with their clients and work according to their specific needs.

Their services, according to their website, can be incorporated in areas of finance, banking, government, hospitality, crypto, healthcare, transportation, retail, age verification and also e-commerce. 

In addition, some of the companies that are already using Incode’s technology are: Citi, Banorte, Nubank, Metal Pay, Rappi, Sabadell, Telefónica, Ford Credit, and Ualá.

“Our vision for One Identity Everywhere is to transform the way humans experience their identity journey with companies,” said Ricardo Amper.

You may also be interested: Softbank is confident in the potential of LATAM Startups


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