São Paulo, 24 January 2023 – Caf, a global leader in the digital identity market, today announced the launch of its global Know Your Everything platform, which will enable businesses to protect their users, create optimal digital experiences and ultimately drive revenue. This comes on the heels of a year where the company more than doubled its revenues despite a difficult global economic environment where many startups are struggling.
In 2022 Caf continued its aggressive global expansion, opening offices in the world’s major technology centers — including the USA, UK and Canada — and ended the year with a 250% increase in revenue, 80% increase in customers and doubling its staff. In all, the company monitored and analyzed more than 14 million transactions, preventing $79 million in fraud throughout the year.
“As we look back on the year, I could not be prouder of what we have achieved as a team,” said Caf CEO Darryl Green. “We successfully raised our Series A round, which we will reinvest in our growth; we hired some of the best and proven leaders across the globe and were able to successfully achieve all the goals initially set out for this year. As other startups felt the impact of changing market conditions, we grew our headcount and posted impressive revenue growth.”
The company is building on this moment with the worldwide launch of its Know Your Everything platform. In a world of embedded finance and “everywhere commerce,” businesses cannot rely solely on KYC and KYB standards to create seamless on-boarding experiences for customers whilst effectively managing risk and compliance. Instead, they must know everything about every user that interacts with their business on every digital platform, whilst maintaining data security and protecting user privacy. To do this effectively, businesses need to re-think processes and implement new technologies.
That’s where the Caf Know Your Everything platform comes in, delivering integrated identity solutions to all businesses. Key components include:
- Expanding Caf’s flexible, anywhere integration to support global businesses and allow them to safely verify and onboard their customers, businesses and employees.
- Delivering best in class data coverage with availability in more than 200 countries and territories.
- Enhancing the existing market-leading product suite of user onboarding, document verification, KYC, KYB, identity validation and account takeover prevention solutions.
- Building on our iBeta Level 1 certification to enhance biometrics detection and ensure liveness of every user.
- Drag and drop, no-code workflow builder and flexible orchestration engine.
These capabilities are especially important in a world where fraud is increasingly commonplace and growing more sophisticated.
“No country is safe because fraud organizations are global and they go where the money is and where the softest targets are,” explained Julie Conroy, fraud expert and Head of Risk Insights & Advisory at Aite-Novarica Group. “E-commerce companies in Latin America and around the world are under considerable pressure to prevent digital fraud and protect their customers.”
Added Green, “As we move further into a Web 3.0 world and beyond, global, anywhere commerce and banking will become the norm. This means businesses need to know a lot more about their customers to properly identify risk and root out fraud. Our new global KYE platform will allow businesses to do just that, while maintaining a quick and seamless verification and authentication experience for good users.”
Look Ahead to 2023 and Beyond
Founded in 2019, Caf — formerly known as “Combate à Fraude” — has been on a continued upward trajectory for several years. In 2021 Darryl Green, an executive with more than 20 years of experience in the digital identity market, became CEO. Alongside co-founders Andre Edelbrock and Trevor Clarke, Green helped lead a transformative BRL 80 million Series A round for the startup.
“2022 was a year of great growth for Caf, and that upward trajectory will continue even further in 2023,” noted Jason Howard, Chief Revenue Officer of Caf. “Between new product enhancements and expanding internationally, it is shaping up to be an exciting year.”