Validated ID to close a €2 million round led by Randstad Innovation Fund, Caixa Capital, and Cuatrecasas Ventures.

Validated ID, a Barcelona, Spain-based company developing digital identity products, announced that it raised €2 million ($2.4M) in capital investment round.

The round was led by Randstad Innovation Fund, Caixa Capital, and included particpation from existing investor Cuatrecasas Ventures.

The money will be used to consolidate the company’s growth and expand internationally.

Validated ID, founded in 2012 and led by CEO Santi Casas, developed three products that specialise in digital identities, electronic signatures and electronic invoices. According to the company, the future focus is on its stake in the emerging blockchain digital identity market, also referred to as Self-Sovereign Identity (SSI). Applications of Validated ID’s products include healthcare, public administration, and education, where they can reduce costs related to data breaches, operations, IT and support, as well as inhibit fraud and counterfeit products. 

Its digital signature SaaS product, VIDsigner, is used by over 100 partners and 1000 clients.