Duna, a business identity verification startup founded by Stripe alumni, just closed a €30 million Series A led by Alphabet's growth fund CapitalG, making it the best-funded European company in the so-called Stripe mafia. The round drew backing from an unusual coalition of payment rivals - current Stripe COO Michael Coogan and Adyen executives Mariëtte Swart and Ethan Tandowsky both joined as angel investors. The Germany and Netherlands-based startup is betting it can build what amounts to a digital passport system for businesses, letting companies reuse verified identity data across platforms like a B2B version of one-click checkout.
The Stripe founder factory just minted another well-funded graduate. Duna, a business identity verification startup created by former Stripe employees Duco Van Lanschot and David Schreiber, pulled in a €30 million Series A led by CapitalG - the same Alphabet growth fund that co-led Stripe's Series D back in 2016.
What makes this round remarkable isn't just the size. It's who's backing it. Current Stripe COO Michael Coogan joined as an angel, along with former Stripe CTO David Singleton and ex-COO Claire Hughes Johnson. Even Adyen - Stripe's fiercest rival in payment processing - got involved, with CRCO Mariëtte Swart and CFO Ethan Tandowsky writing checks. When competitors invest in the same startup, something interesting is happening.
The pitch is deceptively simple: fix the nightmare of business onboarding. Anyone who's tried to open a corporate bank account or get approved for B2B services knows the drill - mountains of paperwork, ID verification requests, compliance checks that drag on for weeks. Duna helps fintech companies like streamline this process, cutting down the churn that typically kills 30-40% of business sign-ups before they complete verification.
