DigiDoe

DigiDoe, a UK-based fintech startup founded in 2019 by Pavel Guzminov and Alexandra Vidyuk, is positioned to address inefficiencies in the global payments infrastructure. The company's inception was driven by the founders' collective experience in finance, technology, and law, identifying a need to disrupt the back-end payment systems that have remained largely unchanged for decades. Operating as a Financial Conduct Authority (FCA) regulated Electronic Money Institution (EMI), DigiDoe's core mission is to combat fraud and enhance financial inclusion.

The firm has developed a payment infrastructure designed to offer secure, multi-currency payment solutions for both businesses and consumers. A significant milestone was achieved in January 2022, when the company secured approximately $1.16 million in a seed funding round led by Joint Journey, with participation from other institutional and angel investors. This capital injection was earmarked for technology enhancement, key hires, and expansion into European and US markets. DigiDoe's product suite is built around a patented, multi-factor biometric-based user identification technology. This includes a feature known as FacePay, which facilitates payments using 7D authentication without requiring a physical card or mobile device, aiming to eliminate fraud. The system's architecture is designed for high transaction volumes, reportedly capable of handling 200,000 transactions per second.

DigiDoe operates on a B2B model, targeting financial institutions and merchants with what it terms Financial Solutions-as-a-Service (FSaaS). Its offerings include multi-currency accounts, cross-border payments, and foreign exchange services. The company also provides a Banking-as-a-Service (BaaS) solution, an ultra-secure, cloud-based API and white-label service that enables businesses to launch digital banking services rapidly. Revenue is generated by providing these payment infrastructure solutions. The client base ranges from startups and SMEs to large enterprises and high-net-worth individuals, offering tailored solutions for global financial operations. Furthermore, DigiDoe is exploring Central Bank Digital Currency (CBDC) as-a-service, aiming to assist central banks in serving vulnerable populations by providing secure access to funds, even in areas with unreliable network connectivity.

Keywords: payment infrastructure, fintech, biometric payments, multi-currency accounts, cross-border payments, Financial Solutions-as-a-Service, FSaaS, Banking-as-a-Service, BaaS, fraud prevention, financial inclusion, electronic money institution, EMI, FacePay, secure payments, digital banking, payment processing, transaction monitoring, AML, CBDC