LABform - LabGroup
Digital customer onboarding platform streamlining all aspects of customer acquisitions and verification.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | $4.1m | Late VC | |
| Total Funding | 000k | ||
| USD | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 43 % | 100 % | 27 % | 11 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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LAB Group specializes in providing electronic identity verification (EIDV) and paperless application solutions tailored for the financial services industry. The company serves a diverse range of clients including financial institutions, investment firms, and other regulated entities that require stringent compliance with Anti-Money Laundering (AML) and risk management protocols.
Operating primarily in the Australian market, LAB Group leverages its flagship product, LABform, to streamline and digitize complex application processes. LABform eliminates the need for physical paperwork, thereby reducing operational costs and enhancing efficiency. This platform not only verifies the identities of individuals, companies, and Self-Managed Super Funds (SMSFs) but also ensures compliance with regulatory requirements.
LAB Group's business model revolves around offering these digital solutions on a subscription basis, providing both standard and white-label options to its clients. Revenue is generated through subscription fees and additional service charges for customized solutions.
Keywords: electronic identity verification, paperless applications, financial services, AML compliance, risk management, LABform, operational efficiency, digital solutions, white-label, subscription model.