Digital identity verification company Magic ID completes €350,000 Pre-Seed round of financing

Digital identity verification company Magic ID announced the completion of a €350,000 pre-seed round of financing, with participation from SFC Capital, Presto Ventures, and a group of angel investors. Magic ID's decentralized identity infrastructure can help simplify the KYC (Know Your Customer) process for enterprises, and is compliant with the EU's General Data Protection Regulation (GDPR) regulatory requirements. The new funds will be used to expand the team and increase research and development.