Dublin-based digital ID and Blockchain technology firm AID:Tech announced on Wednesday they have raised a $3.5 million Series A funding round led by Affinidi through its sister company.

Nakhla Ventures and angel investors Josue Estrada, who is the Chief Operating Officer at Chan-Zuckerberg Initiative, and Draper Dragon partner Richard Wang also participated in the round, the company said in a statement.

The funding will go towards scaling their team in Singapore, relocating their new headquarters, focusing on growth in Southeast Asia, and increasing support for cross-chain interoperable Digital ID applications, it added.

The funding will fuel the company’s mission to provide the infrastructure for secure Digital Wallets for financial services based on verifiable and portable Decentralised Digital ID.

“By converging payment credentials with cards, our unique solutions make it easy to disburse pay-outs, make payments more secure and protect user’s identities online. Applicable to numerous industries including Insurance, corporate and government disbursements, our infrastructure will also help bring more people into the formal economy who currently have limited or no access to digital financial services,” said Joseph Thompson, AID:Tech Chief Executive Officer.

“AID:Tech has a unique solution that is purpose-built to unify Digital ID and payments. In today’s digital-first world, we continue to witness a growing demand for innovative solutions that leverage digital identities and credentials as businesses adapt to changing operating environments. Against this backdrop, we are heartened to witness AID:Tech scaling its business and making strides in the Digital ID space,” Affinidi CEO Glenn Gore said.

Founded in 2016, AID:Tech is a technology company leveraging blockchain and cryptocurrencies for Web 3.0. AID:Tech has won awards from the likes of Citi, the IMF, Dubai government. With offices in Singapore and Dublin, AID:Tech cooperates with governmental, institutional, and private partners globally.

Headquartered in Singapore with a hub in Berlin, Germany, Affinidi is a core technology company seeded by Singapore sovereign wealth fund Temasek that enables creating, sharing, and verification of digital credentials.