Investors woo Digio as regtechs show strong growth amid pandemic

If you were to search for news on e-verification startup Digio, you’d be hard put to find much that is recent. Indeed, you will probably run into some irrelevant results that are in Portuguese, about a Brazilian digital bank with the same name, as the search engine crawls the worldwide web trying to scrape up whatever it can on the company. 

Perhaps this is not surprising given its tutelage. Unlike some of its hyper-funded B2C counterparts, which are always in the headlines for reasons good and bad, Digio, a B2B startup that helps digitise customer onboarding, has kept its head down and focused on building its business. That’s pretty much how its mentor, Nitin Kamath, built online brokerage Zerodha with his brother, Nikhil.

But now, Digio is looking to make a headline or two. After getting by for six years on a diet that consisted strictly of angel funding, and soul food by way of mentorship from Kamath, the digital verification startup has started attracting the interest of investors. While its core business has been profitable for five years now, a new funding round — if and when it happens — will help Digio scale up rapidly in a highly competitive environment.