Veridu beats competition to win Payments’ Dragons Den at PayExpo 2014

New identity verification solution Veridu has been crowned the winner of the prestigious Payments’ Dragons Den prize, an innovative annual competition allowing budding payment professionals the chance to showcase their work and ideas to a qualified audience of senior buyers at PayExpo.

Veridu brings a new level of security to online payments with the most accurate, reliable and trustworthy tools to quickly and efficiently verify the identity of users in order to eliminate fraud and unwanted user behaviour.

Founded in 2012 by entrepreneur Rasmus Groth, Veridu uses knowledge based authentication technology to establish the authenticity of web users. Veridu works with several small to medium businesses in various industries: e-commerce, peer-to-peer marketplaces, collaborative consumption and social networking.

Rasmus commented: “It is a great honour for us to win Payments’ Dragons Den at PayExpo. Although we are not a payment processor, we aim to fight online fraud in the payments sector with the best security and verification available.

“This is an excellent platform to help us to validate our proposition to investors and be recognised as a leading force in the identity industry.”

Veridu beat stiff competition to win the contest from LASU, an independent fashion app; Payfriendz, the first sociable way to send money to friends in realtime and Quixter, a new biometric payment solution that makes it possible to make payments in less than five seconds with just a hand, based on unique palm vein identity scanning.

Payments’ Dragons Den is held in partnership with Startupbootcamp FinTech, a leading business accelerator focused on financial innovation, which provides funding, mentorship and access to a global network of investors and venture capitalists.

The five Dragons’ included Mike Laven, Chief Executive Officer of Currency Cloud; Mark Beresford, Director of Edgar Dunn; David Parker, founder and CEO of Polymath Consulting; Brian Dunne, Managing Director of SVM Europe Ltd and President of IMA Europe and Markus Gnirck, COO of Startupbootcamp FinTech.

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