Finema Company Limited

What Finema Company Limited does

Finema Company Limited is Thailand's first decentralized digital identity company, founded in 2017 by Pakorn and Sarawuth in Bangkok. The company operates an Enterprise Decentralized Identity Platform delivering self-sovereign identity (SSI) technology built on a proprietary Tendermint-based blockchain, with decentralized identifiers (DIDs) and verifiable credentials (VCs) conforming to W3C standards. Its product portfolio spans e-KYC identity verification (Verifined), e-KYB business intelligence (Bizinside), a managed digital identity service (EnAuthn), PKI-based digital signatures (FinéSign with TrueTime e-timestamping), and an AI/ML analytics platform (Finetext) supporting OCR/MRZ document scanning and predictive analytics. The technical stack combines blockchain infrastructure, decentralized certificate authority, an in-house Decentralized Identity Access Mapper (DIAM), AI/ML for document and biometric verification, and PKI for legally compliant electronic signatures.

The company sells primarily through a B2B and B2G (business-to-government) enterprise motion, targeting Thai government ministries, financial institutions, and large enterprises, with regional reach into Southeast Asia via a Singapore office. Revenue is generated through subscription and usage-based pricing for identity verification and digital signature services, supplemented by professional services under the EnAuthn managed service line. Distribution combines direct consultative enterprise sales with a structured three-tier partner program (Referral, Reseller, Integrator). Notable customers include multiple Thai government ministries (Interior, Labor, Foreign Affairs, Public Works, Business Development Department), Khon Kaen University, ETDA, and TOTM Technologies.

Finema is recognized as an APAC industry leader in Gartner's guidance for decentralized identity, holds ISO/IEC 27001:2022, ISO/IEC 29110-4-1:2018, and CMMI Level 3 certifications, and benefits from an 8-year BOI Program corporate income tax exemption from 2020 for information and cyber security software. Strategic government participation includes a pivotal role in developing Thailand Pass for vaccine certificate verification, and the company is an active member of the Decentralized Identity Foundation and COVID Credentials Initiative. The company has raised $1.3 million in a single disclosed 2019 funding round and operates with 11-50 employees.

Name

Finema Company Limited

Legal name

Finema Co.,Ltd

Website

https://finema.co

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Finema is Thailand's first decentralized digital identity company, founded in 2017. It provides self-sovereign identity, e-KYC/e-KYB verification, PKI digital signatures, and AI/ML analytics to Thai government ministries, financial institutions, and Southeast Asian enterprises via its proprietary Tendermint-based blockchain platform.

Ownership category

akta.pro rank

Product category

Decentralized Identity Software

NAICS

Investigation and Personal Background Check Services (561611), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)

SIC

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

akta.pro primary industry

Decentralized Identity (DID) & Verifiable Credentials (BPAMAEAJ)

akta.pro secondary industries

Fraud Prevention & Identity Verification (IDV/KYC) (BPAMAEAI), Identity Verification & Proofing (IDV, KYC, Biometrics) (HDADAAAF), Data, Evidence & Document Verification (IDV) for KYC (FSAMAMAN)

Keywords

• Decentralized identity platform
• Identity verification solutions
• Digital signature services
• Self-sovereign identity
• Business intelligence platform

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Digital Identity Solutions - Enterprise/SaaS: Subscription-based or license-based revenue from providing decentralized identity management solutions, e-KYC, and e-KYB platforms to enterprises and government agencies. Includes managed services (EnAuthn) with consultancy and white-label IT solutions.
2. Digital Signature Services: Revenue from FinéSign digital signature platform offering PKI-based electronic signatures. Likely subscription or per-transaction model for document signing services.
3. Identity Verification Services: Revenue from Verifined platform providing real-time identity verification, fraud prevention, and compliance services to businesses. May include per-verification or subscription pricing.
4. AI/ML Solutions: Revenue from Finetext AI/ML platform providing data analysis, predictions, and automation services. Customizable solutions for various industries including finance, healthcare, and marketing.
5. Business Intelligence - Bizinside: Revenue from Bizinside platform providing company data, financial analysis, and stakeholder insights for business intelligence purposes.
6. Professional Services: Consultancy services related to digital identity implementation, integration, and managed services (EnAuthn).

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Finema provides an enterprise decentralized identity platform delivering self-sovereign identity (SSI) solutions, identity verification (e-KYC/e-KYB), AI/ML-powered document verification, PKI-based digital signatures, and electronic timestamping. The platform is built on a proprietary Tendermint-based blockchain with decentralized certificate authority and is targeted at governments, financial institutions, healthcare, and large enterprises across Southeast Asia.

Product overview

Finema Company Limited offers a multi-product digital identity and verification platform with solutions for both individual (e-KYC) and business (e-KYB) identity verification. The core product portfolio includes: Bizinside (comprehensive business intelligence platform), Verifined (customer identity verification platform), EnAuthn (managed digital identity management service), FinéSign (PKI-based digital signature platform), and Finetext (AI/ML analytics platform). These products work together to provide a comprehensive toolkit for businesses encompassing identity verification, organizational identity, and AI-powered data analysis, all built on decentralized identity and self-sovereign identity technology foundations.

Differentiator

Problem solved

Functional benefit

Products and services

• Verifined Verifined is a customer identity verification (e-KYC) platform that integrates trusted authoritative sources with AI/ML data validation. It enables businesses to perform digital onboarding, verify Thai IDs and passports, and detect fraud in real time.
• Bizinside Bizinside is a business intelligence platform providing company data, financial analysis, and stakeholder insights to support business verification (e-KYB) and informed corporate decision-making.
• EnAuthn EnAuthn is a flagship managed service that combines consultancy and white-label IT solutions to help organizations deploy secure and efficient digital identity management capabilities.
• Finesign FinéSign is a PKI-based digital signature platform that enables legally compliant electronic signatures through a user-friendly online interface accessible on smartphones and computers.
• TrueTime TrueTime is an e-timestamping service within the FinéSign ecosystem that ensures authenticity and integrity of digital records, providing tamper-proof timestamps with legal admissibility and compliance assurance.
• Finetext Finetext is an AI/ML solution that provides precision predictions, customizable business applications, streamlined automation, and real-time data analysis for industries including finance, healthcare, and marketing.

Quantifiable outcome

• Reduced onboarding times and improved user experience through automated digital onboarding
• +2 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature7 records

Partnerships

Five partnerships are on record, tiered major and core.

• COVID Credentials Initiative (CCI)majorStrategic or Co-development Partner · 1 January 2021Finema served as a steering member of the COVID Credentials Initiative, contributing to the development of vaccine credential verification standards and implementations.
• Thailand Government (Thailand Pass)coreImplementation/ SI/ Consulting Partner · 1 January 2021Finema played a pivotal role in developing Thailand Pass, a government portal for automatic and manual verification of inbound travelers' vaccine certificates prior to departure. The platform supported verification of vaccine certificates from around the world.
• Khon Kaen UniversitymajorStrategic or Co-development Partner · 1 January 2019Implementation project to apply self-sovereign identity technology across critical areas including digital student cards, digital transcripts, digital signature, and online academic records. Khon Kaen University is Thailand's second largest university by annual graduates.
• Decentralized Identity Foundation (DIF)coreStrategic or Co-development Partner · 1 January 2019Finema joined the Decentralized Identity Foundation alongside three other self-sovereign identity companies in Asia. DIF is a standards body developing interoperable decentralized identity specifications.
• Electronic Transactions Development Agency (ETDA)coreStrategic or Co-development Partner · 1 January 2018MOU partnership with ETDA under Thailand's Ministry of Digital Economy and Society for decentralized identity technology collaboration. ETDA is a government agency promoting digital transactions and electronic services.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Indicio: Indicio is a US-based decentralized identity platform built on Hyperledger Indy/Aries that provides verifiable credential issuance and verification for governments and enterprises. It is a direct peer to Finema given its shared focus on W3C DIDs/VCs and DIF participation.
• Dock Labs: Dock provides a decentralized digital identity and verifiable credentials network that issuers, holders, and verifiers use for fraud-resistant credentialing. It competes directly with Finema's SSI stack in the same W3C/DIF ecosystem.
• Affinidi: Affinidi, a Temasek-backed Singapore-based company, builds a decentralized identity and verifiable data exchange platform. It is a direct regional peer to Finema given overlapping DID/VC offerings and the same Southeast Asia geography.
• Trinsic: Trinsic offers an API-first verifiable credentials and decentralized identity platform for issuing, holding, and verifying credentials. It is a direct peer to Finema because both sell DID/VC infrastructure to enterprises and governments.

Broad incumbents

• Jumio: Jumio is a large identity verification and KYC/AML platform combining document verification, biometrics, and risk signals. It competes with Finema Verifined for enterprise KYC RFPs and serves financial services and government-adjacent buyers globally.
• Microsoft Entra Verified ID: Microsoft Entra Verified ID is Microsoft's enterprise DID/VC offering embedded in its broader identity and access management portfolio. It competes with Finema for verifiable credential workloads from large enterprises and governments, but as part of a much wider IAM stack.
• Onfido: Onfido is a global AI-driven identity verification (e-KYC/AML) provider serving banks, fintechs, and gig economy platforms. It overlaps with Finema's Verifined offering as an incumbent KYC/IDV competitor rather than a DID specialist.
• IDEMIA: IDEMIA is a global leader in identity, biometrics, and digital credentialing for governments, border management, and financial institutions. It competes with Finema in border management, digital travel credentials, and citizen ID use cases at much larger scale.
• Veriff: Veriff is an identity verification platform offering document and biometric verification with strong fintech and mobility sector penetration. It competes with Finema Verifined for enterprise e-KYC volume outside the DID niche.

Emerging players

• Persona: Persona is a configurable identity verification platform serving fintech, crypto, and marketplace customers with KYC, KYB, and fraud tooling. It is an emerging direct competitor to Finema's Verifined and Bizinside for high-growth digital-first enterprises.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/finema.co
• LinkedInlinkedin.com/company/finema-official

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

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 Finema Company Limited