The startup develops a decentralized identity stack that enables a compliant know your customer and anti-money laundering onboarding process through a one-click login feature. This technology allows users to selectively share their identity data with trusted transaction partners, facilitating identity verification for fintech companies and expanding their global user base.
Funding
$8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Web3 applications require users to undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, which can be cumbersome and time-consuming. Traditional KYC processes often involve centralized storage of sensitive user data, creating privacy risks and potential vulnerabilities.
Solution
Fractal ID offers a decentralized identity verification solution that enables compliant KYC/AML onboarding through a streamlined process. The platform allows users to selectively share verified identity data with trusted partners, eliminating the need for repetitive verification. By leveraging a "dataless" approach, Fractal ID minimizes data retention, storing user data as encrypted Verifiable Credentials in a decentralized storage network (idOS) after a short verification window. This approach reduces the risk of data breaches while adhering to privacy regulations and Web3 principles.
Target Audience
The primary target audience includes Web3 projects (DeFi, RWA, Social, DEX, Launchpads), blockchain ecosystems, venture capitalists, accelerators, and private/public sales platforms seeking compliant and efficient user onboarding solutions.
Features
- "Dataless" KYC: Personal data is permanently deleted from centralized systems after a 14-day verification window.
- Decentralized Storage: User data is issued as an encrypted Verifiable Credential in idOS.
- User-Centric Compliance: Users retain control over their data and can grant or revoke access to dApps.
- KYC/KYB Solutions: Streamlined onboarding for both individual investors and businesses.
- AML Screening: Includes adverse media, high-risk jurisdiction, PEP, sanctions, and wallet address screening.
- Integration Options: No-code, OAuth API, Credentials API, and DID Registry for flexible integration.
- Global Coverage: Supports over 220 countries and analyzes 3500 document types in 38 languages.