Global business identity platform company Niva has officially launched and the company introduced an AI-based solution built to overcome the challenges of establishing trust in businesses internationally. With renowned customers and over $3.3 million in funding led by Gradient Ventures (Google’s AI-focused venture fund) along with participation from Picus Capital, Canary, Gilgamesh Ventures, and key executives from Chime, Deel, Enigma, and Faire, Niva is prepared to transform the complex landscape of global commerce.
The growth of cross-border transactions is estimated to be at over $100 trillion. But this has also caused growing risks, especially for companies working in multiple countries. Most cross-border transactions are between businesses and verifying identities, which requires screening for fraud and meeting local requirements. The current processes are flawed.
Clearly, the need for a next-gen platform tailored for fast-growing companies operating under these constraints has never been greater. This is what Niva is addressing.
By utilizing Niva’s compliance and fraud AI agents, businesses can reduce onboarding cycles from weeks to less than 10 minutes. And this innovation not only enhances application conversion rates by providing a better onboarding experience, but also eliminates the need for training ops teams in multiple languages, regional laws, and fraud tactics.
Niva is already working with early adopters that include fast-growing international fintechs like Xepelin, cross-border marketplaces such as Prima, and other high-growth startups including Aplazo, one of Mexico’s largest buy now, pay later platforms.
Before founding Niva, Co-founder and CEO Abhinav Rai was a General Manager at Enigma, one of the leading vendors of SMB data in the U.S. where he most recently led the launch of Enigma’s KYB product.
Akhil Naini, Niva’s co-founder and CTO, has nearly a decade of invaluable experience in onboarding businesses and individuals as an engineering leader at Gusto, Coinbase, and most recently Chime.
KEY QUOTES:
“Streamlining KYB has always been core to our business. In just a few months, Niva’s AI has been able to accelerate our onboarding to the next level. It’s clear that the team has deep experience in the domain and we’re excited about the continued partnership.”
- Sebastian Kreis, CEO and Founder of Xepelin, one of the fastest growing B2B fintechs in Latin America
“In my last role, countless customers asked us for a product that could also support them in other countries & markets. I’m an immigrant and I’ve seen first-hand how trust is an even bigger problem outside the United States, especially in emerging markets.”
- Niva co-founder and CEO Abhinav Rai
“We’re thrilled to invest in Niva as they leverage the recent innovations in large-language models to solve one of the most complex problems out there – quality data on businesses internationally. Poor data stands in the way of offering credit and financial opportunities to businesses large and small. I can’t wait to see the transformative impact this platform has on the industry and the world.”
- Darian Shirazi, General Partner at Gradient
