UK-based fintech startup Keyless, specializing in biometric authentication technology, has successfully concluded a substantial funding round, securing $6 million. Led by Rialto Ventures, this financial injection marks a pivotal moment for Keyless as it operates independently following its spin-off from the parent company Sift earlier this year.
Keyless is committed to transforming the landscape of biometric authentication, aiming to streamline the entire identity lifecycle. This encompasses initial onboarding and account creation to more intricate processes like transaction signing and account recovery, all while adhering to rigorous privacy standards such as GDPR.
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Distinguished by its capacity to address issues like account takeover attacks and identity theft, Keyless ensures compliance with global data protection and privacy regulations. Their flagship product, Zero-Knowledge Biometrics, is particularly innovative, providing high-level multi-factor security without storing any biometric data, achieved through a simple glance at the camera.
The newly acquired funds will be directed towards refining and expanding Keyless’ biometric authentication solutions. The focus is on developing universal biometric profiles capable of reliably verifying a user’s identity at any lifecycle stage without the necessity to store sensitive biometric data.