Sumsub

Founded: 2015-01-01 in London, United Kingdom
Headquarters: Saint Andrew Street 153, 3036 Limassol, Cyprus

Sumsub is a global full-cycle verification platform that enables scalable compliance for businesses operating in regulated industries. Founded in 2015 in London, the company started as a tool for detecting manipulated graphics and evolved into a comprehensive identity verification solution covering KYC, KYB, transaction monitoring, and fraud prevention. The platform is powered by adaptive AI and machine learning, allowing compliance teams to configure verification levels and risk scoring using natural language. Sumsub verifies over 2 million people daily, achieving conversion rates up to 95.86% in the UK and completing verifications in under 20 seconds on average. Supporting more than 14,000 document types in 50+ languages, it serves over 4,000 clients across fintech, crypto, iGaming, trading, mobility, and marketplace sectors, including Duolingo, Bitpanda, Wirex, Avis, Bybit, and TransferGo. The company has raised $37.5 million in total funding, with a Series B of $30 million in 2022. Headquartered in Limassol, Cyprus, Sumsub also has offices in London, Berlin, and Miami and employs approximately 615 people as of October 2024.

Detailed Review

History and Founding

Sumsub was founded in 2015 in London by four co-founders: Andrew Sever (CEO), Jacob Sever (Chief Innovation Officer), Peter Sever (Chief Strategy Officer), and Vyacheslav Zholudev (CTO). The company initially focused on detecting manipulated graphics and later expanded into a full-cycle identity verification platform. Headquartered in Limassol, Cyprus, with additional offices in London, Berlin, and Miami, Sumsub has grown to about 615 employees.

Business Model and Products

Sumsub offers a comprehensive suite of compliance and fraud prevention tools. Its core products include User Verification (KYC), supporting over 14,000 document types in 50+ languages; Business Verification (KYB) for corporate onboarding; Transaction Monitoring for real-time suspicious activity detection; and Fraud Prevention powered by machine learning to combat account takeover, synthetic identity fraud, and deepfakes. The platform also features Sumsub ID, a reusable digital identity, and Summy AI Copilot, which allows compliance teams to configure workflows using natural language. For cryptocurrency businesses, Sumsub provides Travel Rule Compliance tools. Additionally, the company launched the AFASA Fraud Management Bundle for the Philippines market in May 2026.

Market Position and Recognition

Sumsub serves over 4,000 clients across 220+ countries and territories, including notable names like Duolingo, Bitpanda, Wirex, Avis, Bybit, and TransferGo. The company has raised $37.5 million in funding, with a Series B of $30 million in 2022. It has been recognized by Gartner Magic Quadrant, Forrester Wave, Frost Radar, and Chartis RiskTech Quadrant as a leader in verification and fraud prevention. Sumsub also achieved eIDAS 2.0 recertification for high-assurance identity verification and publishes an annual Identity Fraud Report.

Recent Developments

In 2025, Sumsub introduced Sumsub ID to reduce repeated verifications and launched Summy AI Copilot to simplify compliance configuration. The company also partnered with Auth0, Chainlink, Mellow, and joined the idOS Consortium for Web3 identity. Its annual Identity Fraud Report for 2025-2026 highlights the rise of multi-step fraud schemes and agentic AI scams.

Key Products

User Verification
AI-driven identity document and biometric verification supporting 14,000+ global ID types in 50+ languages.
Business Verification (KYB)
Automated corporate onboarding with UBO detection, financial checks, and risk scoring.
Transaction Monitoring (KYT)
Real-time analysis of user transactions for suspicious activity detection and AML compliance.
Fraud Prevention
ML-powered detection of fraud at any user interaction stage including sign-up, login, and payment.
Sumsub ID
Reusable digital identity enabling one-time verification across multiple platforms.
Summy AI Copilot
Natural-language configuration tool for compliance teams to set rules, risk scores, and workflows.
Travel Rule Solution
Self-service compliance tool for VASPs to meet FATF Travel Rule requirements.
Non-Doc Verification
Document-free identity verification using data-based and behavioral checks.
AI Agents for Compliance
API-first solution enabling AI agents to autonomously integrate and configure compliance setups.
Transaction Monitoring
Real-time detection of suspicious transactions to maintain AML/CFT compliance.
Sumsub for AI Agents
API and dashboard allowing AI agents to configure compliance settings, risk rules, and AML workflows via natural language.
AFASA Fraud Management Bundle
Region-specific fraud prevention bundle for the Philippines market.
User Verification (KYC)
Document and biometric identity verification for individuals, supporting 14,000+ document types in 50+ languages.
Travel Rule Compliance
Self-service setup for cryptocurrency businesses to comply with FATF Travel Rule requirements.