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Niva Emerges From Stealth With Backing From Gradient, Google’s AI Fund, to Tackle Global Business Verification

Niva, a global business identity platform, officially launched today, introducing an AI-powered solution designed to overcome the significant challenges of establishing trust in businesses internation...

Business Wire

Niva’s platform leverages AI agents to enable its customers to effortlessly build trust in legitimate businesses on a global scale.

NEW YORK: Niva, a global business identity platform, officially launched today, introducing an AI-powered solution designed to overcome the significant challenges of establishing trust in businesses internationally. With marquee customers and more than $3.3 million in funding led by Gradient Ventures, Google’s AI-focused venture fund, along with participation from Picus Capital, Canary, Gilgamesh Ventures, and key executives from Chime, Deel, Enigma, and Faire, Niva is set to transform the complex landscape of global commerce.

The rapid growth and digitization of cross-border transactions, estimated at over $150 trillion in annualized payments in 2022, has created growing complexities & risks, especially for companies operating in multiple countries. Over 97% of cross-border transactions are between businesses, and verifying business identity—by screening for fraud and meeting local and international KYB requirements—is a major point of friction. The current process is almost entirely manual, flawed, and varies widely by country, often requiring weeks of emailing back-and-forth between Niva’s customers and the SMBs applying to use their products. The need for a next-gen platform tailored for fast-growing companies operating under these constraints has never been greater, and Niva is already fulfilling this critical need today.

“Streamlining KYB has always been core to our business,” said Sebastian Kreis, CEO and Founder of Xepelin, one of the fastest growing B2B fintechs in Latin America. “In just a few months, Niva’s AI has been able to accelerate our onboarding to the next level. It’s clear that the team has deep experience in the domain and we’re excited about the continued partnership.”

By leveraging Niva’s compliance and fraud AI agents, businesses can reduce onboarding cycles from weeks to less than 10 minutes. This innovation not only enhances application conversion rates by providing a better onboarding experience, but also eliminates the need for training ops teams in multiple languages, regional laws, and fraud tactics.

“We’re thrilled to invest in Niva as they leverage the recent innovations in large-language models to solve one of the most complex problems out there - quality data on businesses internationally,” said Darian Shirazi, General Partner at Gradient. “Poor data stands in the way of offering credit and financial opportunities to businesses large and small. I can’t wait to see the transformative impact this platform has on the industry and the world.”

Niva is already making strides, serving early adopters that include fast-growing international fintechs like Xepelin, cross-border marketplaces such as Prima, and other high-growth startups including Aplazo, one of Mexico’s largest buy now, pay later platforms.

Prior to founding Niva, Co-founder and CEO Abhinav Rai was a General Manager at Enigma, one of the leading vendors of SMB data in the U.S., where he most recently led the launch of Enigma’s KYB product. “In my last role, countless customers asked us for a product that could also support them in other countries & markets,” said Rai. “I’m an immigrant and I’ve seen first-hand how trust is an even bigger problem outside the United States, especially in emerging markets.” Akhil Naini, Niva’s co-founder and CTO, brings nearly a decade of invaluable experience in onboarding businesses and individuals as an engineering leader at Gusto, Coinbase, and most recently Chime.

About Niva:

Niva is a global business identity platform, founded by industry experts Abhinav Rai and Akhil Naini, used to build trust in businesses across the globe. To learn more, visit www.niva.co.

Fonte: Business Wire

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