Estonian Verification startup Veriff makes 66 employees redundant

Estonian Verification startup Veriff makes 66 employees redundant, 42 of which had been working at the Estonian office. That is 12% of its teams around the world. After redundancy, the company will have over 500 employees.

Veriff’s turnover doubled more than twice in 2022, but the company expected it to be more significant. Besides, Estonian startup refers to a market decline and less budget on corporate investments in 2023. For more efficient growth, the company needs to lay off some employees and make Veriff’s support features correspond to the size of the company. 

Veriff is an online identity verification unicorn startup that protects businesses and their customers from online identity fraud. It was established in Tallinn in 2015. It has offices in the US, UK, Estonia, and Spain.