Belsimpel spin-off Verifai receives over €526.000 in funding for advanced anti-fraud technology

16 December 2024

The Groningen-based tech company Verifai, founded by Belsimpel, has received over €526.000 in funding from the EU and the Northern Netherlands Cooperation (SNN). The funds will be used to develop advanced software to detect and prevent online fraud more effectively.

Innovation in identity verification

Since its founding in 2017, Verifai has specialised in identity verification using AI and machine learning. Its innovative software precisely checks identity documents and combats fraud. The funding enables Verifai to develop new technologies to tackle the increasingly sophisticated methods of online fraudsters. Verifai’s clients will benefit from faster risk assessments and safer online transactions, while Belsimpel customers will enjoy smoother onboarding experiences.

Strengthening Northern Netherlands

With this funding, Verifai aims not only to combat fraud more effectively but also to strengthen Groningen as a hub for technological innovation. Collaborations with northern educational institutions and innovation hubs help attract and retain local talent, contributing to economic growth in the Northern Netherlands.

The subsidy enables Verifai to advance technologies that ensure safe and reliable digital transactions, benefiting consumers, businesses, and the region. More information is available at www.verifai.com.