TRUSTDOCK raises JPY 1.5bn for eKYC & digital ID development

TRUSTDOCK, a provider of an eKYC platform and digital ID services that can be used across all industries and business sectors, has raised a total of JPY 1.5bn (USD 11m) in a third-party allotment of new shares, with Globis Capital Partners, Mizuho Capital, Green Coinvest Investment Limited Partnership, JIC Venture Growth Investments, Sony Innovation Fund, and SMBC Venture Capital as participants.

With this, TRUSTDOCK will strengthen its system as a stable eKYC infrastructure, as well as provide digital ID wallets that enable consumers to properly manage their own personal data, in cooperation with the My Number Card and other government policies.

eKYC is expected to continue to grow, not only in industries with strict legal regulations such as financial services, but across all industries as the digitization of real-life procedures and transactions accelerates.

The My Number Card has entered a period of widespread use, with 96 million applications received, and use cases are expanding, starting with administrative procedures. In the future, the number of use cases in the private sector is expected to increase as well. The digitalization of identity and self-proofing will finally begin in earnest, ushering in the era of digital IDs.

Based on Tokyo Shoko Research published in August 2022, TRUSTDOCK’s eKYC service was the most used (by number of companies) for two years running. Among the companies which presented at the Tokyo FinTech Meetup, most recently Woodstock, the social trading platform, stated that it is a TRUSTDOCK customer as well.

TRUSTDOCK offers not only various eKYC methods for the “Act on Prevention of Transfer of Criminal Proceeds”, but also the operations required for customer verification (CDD: Customer Due Diligence) for both individual and corporate customers, including My Number acquisition, risk check, and corporate eKYC that does not require a certified copy, via an API.

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