Jumio acquires 4Stop
The German start-up is now making common cause with its new owner in identity verification and fraud prevention.
The Californian company Jumio has acquired the German start-up 4Stop. The two had been working together for some time as part of a strategic partnership. How much the acquisition cost is not known.
"We are very excited about the opportunity to work with Jumio to develop and perfect crucial next-generation identity and fraud prevention solutions," said 4Stop CEO Ingo Ernst. The start-up's database will now be merged with Jumio's KYX platform. Organizations will then be able to handle the entire identification process for their customers via one platform.
Ingo Ernst, Alvaro Kurth, Nolan Bolusan and Daniel Alvarado founded 4Stop in 2016. The start-up has developed a platform that determines risk scores for companies' customers based on data and identity verification. This is to prevent fraud. The data comes from more than 650 sources and 195 countries.
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