Alphabet's CapitalG joins $35m round of Germany-Dutch fintech firm

Stripe alumni-led startup Duna has raised €30 million (US$35.4 million) in a series A funding round led by Alphabet’s growth fund, CapitalG.

Based in Germany and the Netherlands, Duna helps fintech companies streamline business onboarding and identity verification.

Investors include current and former Stripe and Adyen executives.

Duna aims to create a network for verified business identities that can be reused across multiple platforms, reducing onboarding costs for enterprise clients.

The startup competes in the KYB space with rivals like Jumio and Veriff but generates its own data rather than aggregating existing sources.

The funding will support growth and development, targeting small clusters of interconnected companies to build network effects, especially in markets like the Netherlands.

🔗 Source: Duna

🧠 Food for thought

Implications, context, and why it matters.

Duna is building a reusable digital passport for businesses

Duna wants a verified business identity that a company checks once. It can then reuse that “digital passport” to onboard on other platforms, like reusing a file from one fintech to open an account with Plaid (a company that provides APIs for connecting bank accounts to apps) 1.
Rather than relying on public registries, Duna creates its own verification data. Public sources are often incomplete or outdated 1.
In the Netherlands, the four largest banks employ 14,000 people in compliance. About half work on business customers 1.

Faster onboarding could speed up B2B commerce

Duna focuses on user experience and conversion to cut onboarding drop-off. Fintechs often lose 30 to 40% of business sign-ups to friction in the process 2.
PayPal acquired Honey (a browser extension for finding discounts and cashback) to reach customers earlier in their journey. Duna aims for simpler verification that helps fintech clients win and keep business customers at the first touchpoint 3.
If the network takes off, it could become part of financial infrastructure. One investor compared the opportunity to “rebuilding Visa from scratch” and also raised the idea of a B2B version of Stripe Link (Stripe’s one-click checkout and saved-payment feature) for one-click business onboarding 1.