Duna Secures €10.7M to Revolutionize Business Identity Compliance
Amsterdam, Tuesday, 6 May 2025.
Dutch-German startup Duna raised €10.7 million to enhance business identity verification, streamlining compliance with major backing from prominent industry investors.
Strategic Investment and Leadership
Amsterdam-based Duna secured its seed funding round on May 6, 2025, led by Index Ventures with participation from Puzzle Ventures [1][2]. The startup, founded in 2023 by David Schreiber and Duco van Lanschot, brings significant industry expertise from their previous roles at Stripe and Trade Republic Bank [1]. The venture has attracted notable advisors, including Adyen’s Co-founder and CEO Pieter van der Does, who drew parallels between Duna’s mission and Adyen’s early challenges [1].
Revolutionary Approach to Business Verification
Duna’s platform addresses a critical gap in business identity verification, automating traditionally manual Know Your Business (KYB) and Know Your Customer (KYC) processes [2]. The solution has demonstrated remarkable effectiveness, increasing onboarding conversion rates by approximately 38% within six months for enterprise clients [3]. The platform currently serves major clients including Plaid, Bol, Sequra, and Brand New Day Bank, helping them navigate complex regulations such as AMLD5/6, PSD2/3, DAC7, and DORA [4].
Innovative Technology and Future Vision
The company is developing a groundbreaking global network for shareable business identities, effectively creating a digital passport system that enables immediate identification across various platforms [2]. This innovation comes at a crucial time, as digital identity verification checks exceeded 70 billion in 2024 [2]. With a team of nearly 20 members, Duna’s business model combines subscription-based services with variable costs [2].
Commitment to Sustainable Growth
A unique aspect of Duna’s structure is that one-third of the company is held by the Duna Foundation, a non-profit organization aligned with the company’s mission [1][5]. This arrangement underscores the founders’ commitment to creating value for all stakeholders while pursuing their vision of becoming the global standard in business identity verification [5]. The company plans to use the funding to expand its product and engineering teams, with a focus on extending its reach across Europe and North America [5].