Summary: What Happened
Duna, a business identity regtech startup founded by former Stripe execs, has raised €10.7 million in seed funding led by Index Ventures. The platform helps financial institutions and regulated enterprises streamline compliance-heavy onboarding processes through automated, reusable business identity profiles.
Notable clients include:
- Plaid
- Moss
- Bol
- Sequra
- Brand New Day Bank
These clients have reported a 38% uplift in onboarding conversions within 6 months of going live with Duna.
What Problem Does Duna Solve?
In today’s B2B environment, verifying a business entity (KYB) across jurisdictions requires handling:
- AMLD5/6
- PSD2/3
- DAC7
- DORA
- Supply Chain Transparency Act
- Local UBO and KYC mandates
These checks are fragmented, spreadsheet-based, and slow — resulting in drop-offs, regulatory risk, and compliance bottlenecks.
Duna replaces this with:
- Reusable digital identity profiles
- Automated AML & KYB checks
- Intuitive UX-led onboarding
- API integrations for compliance and banking stacks
Key Innovation: Business Identity as a Network
Duna isn’t just another KYB provider — they are positioning to become the “Plaid for business identity”, i.e., an API-layer and network for two-click business verification. Think:
“Stripe for onboarding + Okta for business identity + DocuSign trust layer”
This shifts B2B onboarding from a cost center to a conversion asset, just as Stripe did with payments.
Strategic Industry Implications
| Industry Segment | Why Duna Matters |
| BaaS / Embedded Finance | Fast-track KYB for SME onboarding, merchant underwriting |
| Marketplaces & Platforms | Automate seller onboarding & AML with low friction |
| Fintechs & Neobanks | Scale onboarding without growing compliance teams |
| Supply Chain & Procurement SaaS | Comply with ESG & transparency laws across jurisdictions |
| Regtech Platforms | Integration potential or partnership threat |
Investor Signal: Index Ventures Backs High-Trust Identity Infrastructure
Index Ventures has a strong history in fintech (Robinhood, Adyen, Plaid). Their involvement indicates:
- Big bet on identity becoming portable, like credit or payments
- Faith in the founding team’s Stripe DNA and prior C-suite experience at Fourthline and Trade Republic
- Final Insight: Compliance as a Competitive Advantage
- Duna’s strategy reflects a broader trend: compliance is no longer a back-office checkbox — it’s a core part of customer experience and growth.
- For fintechs, BaaS platforms, and embedded finance providers, faster, trusted onboarding is key to market share. Duna helps turn a pain point into a product strength, and their trajectory could reshape how identity is treated in B2B finance.
