Ondato
IndustryKYC compliance
Founded2018 in Vilnius, Lithuania
FounderLiudas Kanapienis, Andrej Vištorskij
HeadquartersLondon, United Kingdom
Key people
Liudas Kanapienis (CEO), Andrej Vištorskij (CPO)
ProductsOnline Identity Verification, KYB & KYC Compliance
Websitehttp://ondato.com

Ondato is a KYC, AML, and online identity verification software provider.

The company began operations in 2018 and was founded in Vilnius, Lithuania. In 2020, the company received an investment from Startup Wise Guys[1][2] and moved its headquarters to London’s Canary Wharf district.[3][4]

Ondato has since received additional investment from OTB Investments[5] and other venture capital companies.

Technology

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Ondato’s software is intended to automate KYC and AML within institutions by automating back-office processes such as screening for politically exposed persons lists, validating risk scores and eliminating false positives.[6]

Achievements

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Ondato serves several high-profile companies such as OnlyFans[7], STEX[8], and Luminor Bank.[9]

The company has received awards from Lithuanian government authorities.[10]

Ondato’s technologies are being used to ensure remote work capabilities for the Lithuanian parliament (Seimas).[11]

In 2024, Ondato was also named as the 137th fastest-growing European company by the Financial Times.[12]

References

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  1. ^ "There are only two accelerators European VCs care about". Sifted. Retrieved 2024-05-24.
  2. ^ Tucker, Charlotte (2020-06-01). "Lithuania-based Ondato attracts €450K for its KYC solutions". EU-Startups. Retrieved 2024-05-24.
  3. ^ "European biometric firm expanding in London since Brexit deal signed". Yahoo News. 2020-12-31. Retrieved 2024-05-24.
  4. ^ "This is the first tech startup that moved to London after Brexit". UKTN. 2020-12-31. Retrieved 2024-05-24.
  5. ^ "Press corner". European Commission - European Commission. Retrieved 2024-05-24.
  6. ^ PYMNTS (2022-11-14). "Real-Time Reporting at the Forefront of KYC Innovation". PYMNTS.com. Retrieved 2024-05-24.
  7. ^ "Interview with Liudas Kanapienis, founder of Ondato". seedblink.com. Retrieved 2024-04-15.
  8. ^ "Ondato Partners With Cryptocurrency Trading Platform STEX". ffnews.com. Retrieved 2024-04-15.
  9. ^ "Ondato Enables Remote Business Onboarding for Luminor Bank". mobileidworld.com. Retrieved 2024-04-15.
  10. ^ "Top 4 Vilnius Star Startups to Watch in 2022".
  11. ^ "Digital transformation of the Lithuanian Parliament: the Seimas has smoothly switched towards a remote work environment - News". www.lrs.lt (in Lithuanian). Retrieved 2024-04-15.
  12. ^ Kilby, Nathalie (2024-03-01). "FT 1000: the eighth annual ranking of Europe's fastest-growing companies". www.ft.com. Retrieved 2024-04-15.
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