Payfone: Raises $100M for its mobile phone-based digital verification and ID platform
- The funding is being led by Apax Digital, with participation from an interesting list of new and existing backers
- Payfone tells me it has now raised $175 million to date, and while it’s not disclosing its valuation with this round
- Desai added that Payfone is already profitable and business has been strong lately
- Payfone founded in 2008 amongst a throng of mobile payment startups that emerged to help connect consumers
- Then the market for authentication and verification services estimated to be worth some $6 billion in 2019
- The fact that Payfone essentially works in the background has been just as much of a help as a hindrance for some observers
