Berlin Fintech Duna Secures €30M Series A Round
The Duna founders: David Schreiber and Duco Van Lanschot - © Duna
Berlin- and Amsterdam-based fintech Duna has closed a €30 million Series A funding round led by CapitalG, Alphabet's independent growth fund, according to the company's press release. Existing investors Index Ventures and Puzzle Ventures also participated, bringing Duna's total funding to over €40 million.
Founded in 2023 by former Stripe executives Duco van Lanschot and David Schreiber, Duna is tackling one of the internet's most persistent challenges: business identity verification. The company's AI-native platform provides what it calls a "digital passport" for businesses, streamlining the cumbersome process of identity checks and compliance procedures.
Currently, Duna serves large banks, fintechs, platforms, and financial institutions, helping them verify who they're doing business with through KYC (know your customer), KYB (know your business), and AML (anti-money laundering) processes. The results speak for themselves: customers like Plaid, CCV (Fiserv), Moss, and SVEA bank report 10.6 times faster onboarding and 4.8 times productivity gains.
The problem Duna addresses is significant. Van Lanschot notes that compliance and identity verification consume up to 10 to 20 percent of a bank's total costs. Legacy systems are expensive, manual, and inefficient, leading to billions lost through fraud, friction, regulatory fines, and rejected legitimate customers.
"We are turning a decades-old compliance cost center into a core revenue driver," explains co-founder David Schreiber. The urgency has increased as AI technology, while beneficial, has also enabled more sophisticated fraud schemes.
Duna's long-term vision extends beyond verification. The company aims to create a network for shareable identity and one-click onboarding, eliminating the painful document exchanges that currently slow down B2B relationships.
The fresh capital will fund expansion of Duna's enterprise capabilities while maintaining the regulatory standards required by banks and large institutions.
Thinking about launching a business, setting up premises, or creating partnerships in Berlin?
We invite you to contact us.
Our team is ready to help you with our free consultation services.