Duna Secures €30M Series A Funding with Support from Stripe and Adyen Veterans

From Stripe Alumni to Startup Success: The Rise of Duna

Anthropic and OpenAI may be rivals, but their presidents Daniela Amodei and Gregory Brockman share a common background as Stripe alumni. This fintech company has cultivated a reputation as a prolific “founder factory,” with former employees going on to establish numerous successful startups. The latest addition to this growing list is Duna, a business identity verification startup that recently secured a €30 million Series A funding round, making it the best-funded European member of the renowned “Stripe mafia.” The funding was led by CapitalG, Alphabet’s growth fund, which has been a supporter of Stripe since co-leading its Series D in 2016.

Founded by Duco van Lanschot and David Schreiber, Duna is based in Germany and the Netherlands. The startup aims to streamline the onboarding process for fintech companies, helping them efficiently onboard business customers and reduce churn associated with corporate ID checks and fraud prevention measures.

While Stripe is not a client of Duna, the startup has received backing from key industry figures who recognize the value it brings to the market. Former Stripe executives such as David Singleton, Claire Hughes Johnson, and Michael Cocoman have invested in Duna, along with representatives from Stripe rival Adyen. This endorsement underscores the unique niche that Duna occupies in the market, providing specialized solutions that complement rather than compete with existing industry players.

Duna’s focus on serving the long tail of enterprise clients, who may lack the resources for extensive business onboarding processes, sets it apart in the competitive landscape. However, the startup’s vision extends beyond simplifying onboarding procedures to creating a network that allows businesses to easily reuse verified identity information across different platforms.

CapitalG’s investment in Duna’s Series A reflects a shared vision for the future of identity verification and underscores the startup’s potential for growth and scalability. By leveraging network effects and innovative business models, Duna is poised to disrupt the KYB (Know Your Business) market and establish itself as a leader in the industry.

One of Duna’s key differentiators is its approach to data generation, rather than relying solely on existing data sources. This strategy enables the startup to build a robust foundation for its operations and create new opportunities for business growth and expansion.

As Duna continues to expand its client base and enhance its offerings, the startup is exploring innovative strategies to accelerate its growth. By identifying and targeting specific clusters of companies with overlapping needs, Duna is able to deliver immediate value to clients and lay the groundwork for future network effects.

With a focus on automation and cost savings, Duna is not only revolutionizing the business onboarding process but also paving the way for more efficient and streamlined operations in the future. By harnessing the power of AI and advanced technologies, Duna is well-positioned to transform the way businesses verify identities and conduct transactions.

Looking ahead, Duna’s ambition to create a global trust infrastructure and enable seamless business onboarding holds immense potential for the industry. By leveraging its unique position and expertise, Duna has the opportunity to become a key player in the evolving landscape of identity verification and business services.

As Duna continues to innovate and expand its reach, the startup’s connection to the Stripe legacy remains strong. With a shared commitment to excellence and innovation, Duna is poised to make a lasting impact on the industry and redefine the way businesses approach identity verification and onboarding processes.

This article has been updated to correct the name and title of one of Duna’s angel investors and provide clarification on the compliance workforce in the Netherlands.