Even with progress in digital payments, verifying business identities online remains difficult. Many banks and fintechs use outdated, manual systems for compliance and onboarding, which can account for 10 to 20 per cent of their operating costs.
Duna, a fintech company in Germany and the Netherlands, wants to solve this problem. It has built an AI-powered platform that helps businesses verify identities smoothly, securely, and at scale.
Duna announced today that it has raised €30 million in Series A funding, led by CapitalG, Alphabet’s growth fund. Index Ventures and Puzzle Ventures, which already invested in Duna, joined the round, along with industry leaders such as Frank Slootman, Chairman of Snowflake.
With this new funding, Duna’s total investment now exceeds €40 million.
The hidden cost behind every digital deal? Compliance
Duna was founded in 2023 by Duco van Lanschot and David Schreiber, both of whom held leadership roles at Stripe. They started Duna after seeing the problems with business identity verification firsthand.
Van Lanschot led Stripe’s Benelux and DACH regions, while Schreiber managed its largest global business unit. Together, they set out to tackle what they call the hidden cost of modern commerce.
Duna wants every company to have a digital passport, a trusted identity that can be shared online right away. In the future, this could grow into a global network, enabling the onboarding of business partners with just one click. Customers say they can onboard up to 10 times faster and are seeing almost five times more productivity.
Its platform is built on both regulatory compliance and AI, covering key requirements such as Know Your Business (KYB), Know Your Customer (KYC), Anti-Money Laundering (AML), and Customer Due Diligence (CDD), and is designed to be fully auditable and ready for large companies.
Duna is different from compliance tools like Trulioo, Onfido, or ComplyAdvantage. Instead of just automating verification, Duna is building a network: a shared layer of trust that banks, fintechs, and platforms can use. This approach turns identity from a hassle into a real advantage.
So, what’s next?
Duna’s customers include Plaid, CCV (Fiserv), Moss, Bol, and SVEA Bank. Next, the company plans to grow responsibly by investing in compliant, explainable AI and expanding further in Europe, keeping up with the strict regulatory standards its financial partners expect.
