ProofOfID

What ProofOfID does

ProofOfID Inc. is a Toronto, Canada-based private SaaS company founded in 2022 that operates a digital identity verification and KYC identity-sharing platform. The platform combines AI-driven ID validation (including computer vision for document authentication and anomaly detection for real-time fraud detection) with a decentralized architecture, end-to-end encryption, multi-factor authentication, and continuous verification. It is offered as a core platform extended through five industry-specific modules covering Fintech, Government Services, Telecommunications, E-commerce, and Healthcare, and as a Customized Solutions & API product for embedded and white-label integrations.

The company sells to enterprise customers primarily in fintech (flagged as the primary vertical) with additional reach into government, telecom, e-commerce, and healthcare, addressing KYC compliance, AML, identity fraud, SIM swap/account takeover, and patient identity use cases. Pricing is not publicly disclosed and is structured around enterprise subscriptions on an annual billing cadence, with custom pricing based on volume and integration requirements. Distribution relies on direct enterprise field sales ("Request a Demo" / "Contact" CTAs), an API-first model for embedded deployments, and event-driven GTM including the Open Banking Expo UK & Europe 2025, where the company was shortlisted for the Best Anti-Fraud Solution award. The company is a member of DIACC and partners with the Canada Counter Fraud initiative, and holds SOC 2 Type 2 and GDPR compliance credentials.

ProofOfID has raised approximately $1.75M across two disclosed funding rounds (a $750,000 seed in December 2022 and a $1,000,000 round in August 2025), with investors undisclosed. Headcount is reported in the 11-50 range, no parent company or institutional investor is disclosed, and revenue has not been publicly reported, indicating an early-stage operating profile despite a maturing product surface and ecosystem footprint.

Name

ProofOfID

Legal name

ProofOfID Inc.

Website

https://ProofOfID.io

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

ProofOfID Inc. is a Toronto-based AI-powered digital identity verification and KYC identity-sharing SaaS platform serving primarily fintech enterprises, with additional solutions for government, telecom, e-commerce, and healthcare, sold via enterprise subscriptions, customized APIs, and white-label integrations.

Ownership category

akta.pro rank

Product category

Digital Identity Verification

NAICS

Investigation and Personal Background Check Services (561611)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Identity Verification & Proofing (IDV, KYC, Biometrics) (HDADAAAF)

akta.pro secondary industries

Identity Verification (IDV) & Document Verification (FSAMALAE), Decentralized Identity (DID) & Verifiable Credentials (BPAMAEAJ), Identity Verification, Proofing & KYC (IDV) (HDAEAJAI), Decentralized Identity (DID) & Identity Wallets (DID methods, DIDComm, identity agents) (FSAPACAG)

Keywords

• Identity verification platform
• KYC compliance solutions
• Digital identity sharing
• AI fraud detection
• Decentralized ID validation

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Identity Verification Platform: AI-powered identity verification and KYC ID-sharing platform offered as a service to enterprises across multiple verticals including fintech, government, healthcare, and telecommunications.
2. API/Customized Solutions: Customized API solutions and white-label integrations for enterprise clients requiring embedded identity verification capabilities.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

ProofOfID provides an AI-powered digital identity verification and sharing platform featuring KYC ID-sharing capabilities, decentralized architecture, and end-to-end encryption. The platform enables enterprises across fintech, government, telecommunications, e-commerce, and healthcare to perform real-time identity validation, fraud detection, and regulatory-compliant customer onboarding. It is delivered via industry-specific solutions and customizable API integrations for white-label and embedded use cases.

Product overview

ProofOfID is a unified digital identity verification and sharing platform that combines AI-powered ID validation with KYC ID-sharing capabilities. The core ProofOfID Platform serves as the central product, offering decentralized architecture, end-to-end encryption, real-time validation, and AI-driven security. The platform extends through industry-specific solutions (Fintech, Government Services, Telecommunications, E-commerce, Healthcare) that provide tailored identity verification workflows for each sector. Additionally, Customized Solutions & API enables enterprise clients and developers to build custom integrations and tailored verification solutions using ProofOfID's capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• ProofOfID Platform A core digital ID platform powered by AI ID-validation and KYC ID-sharing features, using decentralized architecture and end-to-end encryption to deliver identity verification and secure data sharing for enterprise customers.
• Fintech Solution Identity verification and KYC solution tailored for financial services companies, enabling secure customer onboarding and compliance with financial regulations including AML.
• Government Services Solution Digital identity verification solution for government agencies to securely verify citizen identities and streamline public service delivery.
• Telecommunications Solution Identity verification service for telecommunications companies to verify customer identities during subscriber onboarding and service provisioning, addressing SIM swap and account takeover fraud.
• E-commerce Solution Identity verification solution for e-commerce platforms to authenticate customer identities, prevent payment fraud, and build trust in online transactions.
• Healthcare Solution

Quantifiable outcome

• Reduces risk of data breaches through decentralized, encrypted architecture
• +1 more outcomes

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature8 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Open Banking ExpocoreGTM or Marketing Partner · 1 January 2025ProofOfID participated as an exhibitor and presenter at Open Banking Expo UK & Europe 2025, showcasing decentralized identity verification and dynamic digital sharing solutions. The company was also shortlisted for the Best Anti-Fraud Solution award at this event.
• DIACC (Digital Identity Authentication Council of Canada)coreStrategic or Co-development PartnerProofOfID is a member of DIACC, the Digital Identity Authentication Council of Canada, contributing to and collaborating on digital identity standards and frameworks in the Canadian market.
• Canada Counter Fraud PartnerminorStrategic or Co-development PartnerPartnered with Canada Counter Fraud initiative to combat identity fraud in the Canadian financial ecosystem.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Persona: Persona offers a configurable identity verification platform with KYC, AML, and fraud-prevention capabilities. It targets the same enterprise segments as ProofOfID and competes on API-first customizable verification workflows.
• ID.me: ID.me specializes in identity verification and digital identity wallets for government, healthcare, and financial services. It is a direct peer to ProofOfID's government-services and healthcare modules and to its decentralized identity/sharing positioning.
• Onfido (Entrust): Onfido provides AI-based document verification and biometric identity proofing, now part of Entrust. It competes head-to-head with ProofOfID on KYC, AML, and customer onboarding for financial services and other regulated verticals.
• Veriff: Veriff provides AI-driven identity verification and document authentication for fintech, mobility, and online communities. It is a direct competitor to ProofOfID on fraud detection, KYC, and global scalability claims.
• Trulioo: Trulioo is a Canadian-headquartered global identity verification provider focused on KYC, AML, and business verification. It is a direct competitor to ProofOfID and a natural peer given the shared Canadian base and similar regulated-vertical focus.
• Prove: Prove (formerly Payfone) focuses on identity verification and authentication using phone and behavioral signals, with strong telecom carrier partnerships. It is a direct peer to ProofOfID in telecom and financial-services identity verification.
• Jumio: Jumio is a leading AI-powered identity verification and KYC platform serving fintech, banking, and online businesses. It is a direct competitor to ProofOfID across nearly every vertical and use case ProofOfID targets.

Broad incumbents

• Microsoft Entra Verified ID: Microsoft Entra Verified ID is a decentralized identity offering from a major cloud incumbent. It is a broad incumbent peer to ProofOfID's decentralized identity, verifiable credentials, and DID-based identity-sharing positioning.
• Okta (Auth0): Okta, with Auth0, is a broad identity and access management incumbent that offers identity verification and workforce/customer IAM at scale. It overlaps with ProofOfID's IAM and MFA capabilities as part of a much larger identity portfolio.

Emerging players

• ShoCard (Ping Identity): ShoCard, now part of Ping Identity, pioneered blockchain-based decentralized identity. It overlaps with ProofOfID's decentralized identity and verifiable-credentials capabilities but is embedded within a larger IAM platform rather than sold standalone.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@proofofid
• LinkedInlinkedin.com/company/proof-of-id

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ProofOfID