QOOBISS plans expansion in Poland, Spain, this year

QOOBISS, a fintech company focused on process automation and specializing in the development of remote identity verification solutions using video means, tripled its business in 2023, up to 1 million euros, estimating a doubling of revenues in 2024.

For the current year, the company has budgeted investments of 500,000 euros for the development of existing solutions, the launch of new services, and international expansion.

“2023 was a good year for QOOBISS, in which we developed in line with new technological trends and prepared our solutions to accelerate the business this year. Currently, we are working on adapting our identification service for two other markets in Europe: Poland and Spain. Preparing for an official launch of the QOOBISS solution in other geographic areas is preceded by an intense period of testing, to ensure it is perfectly adapted to the identity documents of the targeted countries and that we comply with all current legislative provisions. Now, we are in the midst of expanding to more countries in Europe,” says Ileana Comănescu, KYC Global Product Manager at QOOBISS, mentioning that the adjustment time for entering a new market varies between 4 and 6 months, a period necessary to adapt the solution so that it complies with local legislation and existing practices (e.g., access to the database of identity documents).