Image of Mike Tuchen, CEO and cofounder of Onfido

Interview

July 25, 2023

Onfido CEO Mike Tuchen: 'We’re unhooking ourselves from the drug of other people's money'

The head of the identity verification unicorn says the company has done layoffs to help reach cashflow positive quicker

Amy O'Brien

4 min read

The tricky market conditions have dented the revenues of many SaaS companies as their corporate clients cut software spend. UK tech darling Onfido is no exception. The identity verification software scaleup — which was once reportedly considering a US IPO — is now focused on more short-term goals: reducing its reliance on VC cash and selling more to customers in the EU. 

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Amy O'Brien

Amy O'Brien is a freelance reporter covering Italian tech. She was previously Sifted's fintech reporter

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