iDenfy
👤 Domantas Ciulde (Ran a UK web-security firm, saw card fraud up close, and built the prototype himself — an insider before KYC went mandatory.)🌐 siteLinkedIn
Regulation forces every fintech and crypto site to verify users; iDenfy bills only for the checks that pass.
Will it work? · our read
Forced demand wins. The EU forces every fintech, crypto and gambling site to verify users — iDenfy just built a cheaper tollbooth. But it is a thin layer rivals and eID wallets can undercut.
01How the money moves
A law (EU AML/KYC) forces fintech, crypto and gambling sites to verify every user
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iDenfy runs the ID plus biometric selfie check via its own API
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Client is billed only when a verification is approved ($0.55-$1.35)
02The numbers
€5.25MFiledFY2025 · LT filing (-13%)
2025source:
5,246,300
the sentence on the page
Finansiniai duomenys Pardavimo pajamos 41,721 248,193 745,862 1,568,860 2,402,581 3,842,913 6,044,449 5,246,300 Pelnas prieš apmokestinimą -192,797 -71,059 248,298 455,207 863,296 1,580,266 3,077,545…
Revenue from iDenfy UAB statutory accounts (registry code 304617621). Scoris (LT registry)
FY2025 revenue of €5.25M — down 13.2% on the year, the first fall in the company's history. Still highly profitable: €1.66M net, a 31.6% margin. Lithuanian statutory filing.
🔒
You have the verdict. Members get the work behind it.
- The CENTS scorecard — where it's strong, where it's soft
- The founder's key move, and the counter-move
- How it could die — the evidence, and how sure we are
- The case against our own call
- A 🚀 launchpad prompt — the case, as a plan for your business
We rate our own confidence — and argue against ourselves. Nobody else in this category does.
Sources always public on all 560 cases · cancel anytime · 14-day refund
See a full teardown, free → ImportYetiSourcesSources last checked 5 August 2026
iDenfy — The Journey of iDenfy (first-party origin story)Scoris — iDenfy UAB financials (LT registry filing)iDenfy — KYC pricing: pay only for approved usersDomantas Ciulde — LinkedInEuropean Commission — AML/CFT at EU level
Revenue is iDenfy UAB's Lithuanian statutory filing (registry code 304617621), read on Scoris: "2025 finansiniais metais bendrovė gavo 5,25 mln. Eur pajamų... Pajamos per metus sumažėjo 13,2 %" — FY2025 revenue EUR 5.25M, net profit EUR 1.66M, a 31.6% margin, and revenue DOWN 13.2% on the year. This card previously led with FY2024 (EUR 6.04M, +57% YoY) and was corrected on 13 July 2026: FY2025 had been filed and the direction had reversed. A card that leads with a growth rate does not merely go stale when the growth stops — it starts saying the opposite of what is true. Note the business is still very profitable; the decline is in revenue, not in earnings. "1,000+ clients" is iDenfy's own marketing figure. Sumsub's oft-cited $85M ARR is a Latka estimate, so I avoided leaning on rival revenue. The commoditization and eID-wallet death thesis is [our read] — and the first revenue decline in the company's history is the first evidence for it. We never score you.