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In 2020 we told you about Mati, a cybersecurity startup originally from California but based in Mexico City. That year the company closed an investment round with Spero Ventures for an undisclosed amount. Kima Ventures, Dorm Room Fund and Blackhorn Ventures also participated.
Now Meti has raised US $ 70 million in a Series B led by Alameda Research, Tribe Capital and Crafft. Along with this investment, Meti announced that its name has changed: it is now called MetaMap.
Founders Filip Victor and Amaury Soviche created Mati in 2016 trying to create “a 21st century version of VISA” meaning they wanted to avoid fraud when using financial services. To achieve this, the company verified the identities of users through AI and relied on government databases to perform background checks.
Now that it’s called MetaMap, the company has changed its verification process. He argues that human identity goes far beyond one-dimensional scores, such as IQ, standardized test results, or even a credit history score. It’s not that these scores are incorrect, but that they don’t define a person’s identity.
That is why MetaMap creates a “map” that goes beyond these scores so that each individual can have less biased access to financial services.
MetaMap assesses personal merits divided into three categories: compliance (biometric data, government information, official ID), financial (banking data, credit history, tax history) and employment (psychometric, social media profiles, criminal history).
The founders of the company are convinced that services like MetaMap will also be very useful in the metaverse – that early technology platform of virtual universes – as they could put users on the digital map, giving them visibility perhaps. be for the first time.
Currently, people with poor credit history, limited access to basic education, or living in highly marginalized areas find it difficult to apply for a loan or credit online. If their identity was verified by the sum of other merits, as MetaMap offers, they would be able to access such financial services more easily.
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