Vereign was established in 2017 with the aim to provide a digital identity, which makes the user sovereign over his own data and interactions. The identity is verified by third parties, for example as part of existing e-IDs or KYC (Know Your Customer) processes carried out by banks. The startup has built a network of traditional and new technology players in a variety of areas, including finance, software development and the fundamental technologies of the future internet.
To accelerate market entry, Vereign has obtained fresh capital after the closing of CHF 2.5 million seed round led by a renowned Swiss entrepreneur via his Zurich based Family Office. Other participants in the round include: AquilaDirekt whose managing partners Philipp Steinberger and Jan Lüchinger aim to support Vereign in bringing its solution into the market. Totemo AG, a Swiss software company specialized in the secure exchange of business information participates financially as well as operationally, supporting Vereign with its marketing and sales experience as part of a strategic partnership, as revealed by Dario Perfettibile, CEO of Totemo. Additionally, blockchain and technology groups such as the Swiss Crypto Valley through its investment arm CV VC, and Æternity one of the most promising Blockchain designs also contributed to the round.
This network of a verified self-sovereign identity is joined by a strong international partner ecosystem. This includes IBM, a global leader in self-sovereign digital identity solutions. Vereign has been working closely with IBM since its inception, leveraging platforms based on open source and open standards to provide users with this extra innovation and security layer they need to face the challenges of today.
Claus Bressmer, Co-founder and CEO of Vereign AG says: “We are on a journey to address one of the biggest challenges of our time. We cannot achieve that alone and I am extremely excited and humbled to have the support of such an outstanding partner ecosystem and this distinguished group of investors.”