OTPless
Passwordless authentication via WhatsApp and social logins.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
* | $3.5m | Seed | |
| Total Funding | 000k | ||
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OTPless is a customer identity and access management (IAM) platform founded in 2021 by former BharatPe executives Bhavik Koladiya, Satyam Nathani, and Tanmay Sagar. The company aims to eliminate the need for traditional one-time passwords (OTPs) by enabling users to sign in to websites and applications through WhatsApp and other secure methods like biometrics and device-based authentication.
The founders, who were part of the founding team at fintech firm BharatPe, identified the security risks and user friction associated with OTPs as a key problem to solve. The idea for a WhatsApp-based login system originated from a dinner conversation about the frustrations of waiting for OTP messages. This shared experience led them to develop a platform that simplifies the authentication process, aiming to provide a more secure and seamless user experience.
OTPless operates on a B2B model, providing its authentication solutions to businesses through SDKs and APIs that can be integrated into their existing platforms. The company serves a global client base, with over 5,000 companies and 20,000 developers utilizing its technology to authenticate more than 30 million users. Its business model is usage-based, charging clients based on the number of authentications. The platform supports a variety of sign-in methods, including Google, iMessage, Microsoft, Slack, and modern protocols like Passkeys and protected SMS, achieving user conversion rates of up to 98%.
The company has secured a total of $6.5 million in funding over two rounds. A seed round in February 2023 raised $2.7 million, followed by a $3.5 million pre-Series A round in May 2024 led by SIDBI Venture Capital. This funding is being used to expand OTPless's global presence and to extend its services beyond authentication into authorization, which involves managing user permissions.
Keywords: passwordless authentication, identity and access management, IAM, WhatsApp login, user authentication, secure sign-in, mobile authentication, biometric authentication, device fingerprinting, one-time password replacement, API, SDK, B2B, fintech, cybersecurity, user experience, conversion rate optimization, passkeys, multi-factor authentication, secure login