Digital identity verification tech firm Onfido has been acquired by Entrust Corp, a global leader in trusted payments, identity and data security.
This purchase marks the highest value return on investment for a student-led startup for the University of Oxford. The University proceeds will support and fund the creation of more companies and entrepreneurship programmes at Oxford.
Onfido was one of the first entrants into Oxford University Innovation’s Incubator in 2012, an entrepreneurship programme that helped to nurture the technology developed by student founders Husayn Kassai, Eamon Jubbawy, and Ruhul Amin. In 2013, while pursuing their studies at Saïd Business School, the team went on to receive £20,000 in early phase funding through the Entrepreneurship Centre's Oxford Seed Fund. This sale represents an 80 times return on the Oxford Seed Fund Investment.