Dutch FinTech startup Duna raises €30 million to expand compliant AI for business identity and onboarding

Amsterdam-based FinTech startup Duna has secured a significant €30 million Series A funding round, positioning itself as a key player in the burgeoning European digital identity sector. This substantial investment, led by Alphabet’s growth fund CapitalG and supported by existing investors, underscores the growing demand for compliant, AI-driven solutions to manage business identity and onboarding processes. The funding will fuel Duna's expansion and its mission to establish a global trust infrastructure for businesses. Duna's platform leverages AI to address critical challenges in identity verification, a process that currently incurs substantial costs for financial institutions, often ranging from 10-20% of their total expenses. By automating these complex and manual legacy systems, Duna aims to mitigate billions lost to fraud, friction, and regulatory fines, while also enabling legitimate customers to onboard more seamlessly. This strategic focus on AI for identity management highlights a key trend in the FinTech landscape, where automation is being harnessed to create efficiency and security. This development occurs within a broader trend of increasing investment in European digital identity solutions, with several other startups in the UK and the Netherlands raising significant capital. Companies like OneID, Yaspa, Ver.iD, Keyless, and Handwave are all contributing to the growth of this sector, focusing on areas from biometric authentication to payment-linked identity services. Duna's substantial funding round, coupled with its AI-native approach, distinguishes it as a notable contributor to Europe's drive for digital sovereignty in critical infrastructure.