Incode Technologies Inc. (“Incode”) based in San Francisco and Mexico, is a next generation digital authentication and KYC platform. The business was founded by serial entrepreneur Ricardo Amper which develops software that delivers an end-to-end authentication service to customers, leveraging machine learning to provide best-in-class facial recognition, Identity Document Verification and “Liveness Detection”.
The company raised $25 million Series A investment in order to scale and fuel aggressive growth in North America and Europe, including an expected tripling of headcount. The round was led by DN Capital and 3L, with participation from Framework Venture Partners, Walter Ventures, FJ Labs, and DILA Capital.
Incode’s fully automated and proprietary technology stack leverage machine learning to provide best-in-class fraud detection and conversion rates. Unlike competitors, the platform avoids the need for manual ID processing, and limited reliance on 3rd party software enables Incode to achieve industry leading gross margins, whilst simultaneously being highly price competitive. Incode’s solution also stands-out in terms of enterprise readiness, offering easy low-code design flows to build and maintain in customer onboarding and identification flows.
Having initially launched their solution in 2019, Incode rapidly signed high-profile customers including several of the largest financial institutions and marketplace companies in the world. The company’s initial success has been in the Mexican market, but customer references, pipeline opportunities and expert diligence suggest that Incode can become a global category leader in this space.
“Over the past few years and accelerated by the Covid-19 crisis, consumer expectations regarding digital identity have shifted dramatically. Self-service, contactless experiences are the preferred channel for everything from opening a bank account to checking into a hotel room,” said Ricardo Amper, CEO and Founder of Incode Technologies. “Incode is reinventing the way humans verify their identity and interact with companies’ systems, with a highly secure, frictionless AI based experience, that works across channels.”