IDnow, a Munich-based id verification platform supplier, has introduced a brand new strategic funding from Corsair Capital, a US-based funding agency specialising in funds, software program, and enterprise providers inside monetary providers.
Corsair will purchase a majority stake in IDnow from present shareholders, aiming to increase the corporate’s progress in Europe and past.
Based in 2014, IDnow develops AI-powered id verification applied sciences for sectors together with monetary providers, telecommunications, journey, mobility, and gaming.
Corsair initially invested in IDnow in 2019, buying a minority stake.
Since then, IDnow has expanded its technological capabilities, broadened its portfolio of verification options, and made two acquisitions that strengthened its presence in Europe, notably in France.
IDnow CEO Andreas Bodczek said:
“Since our founding a decade in the past, IDnow has change into a market chief in id verification in Germany and France. With right this moment’s announcement, we purpose to solidify our dedication to positioning the corporate for future success. Corsair’s elevated funding underscores their confidence in our imaginative and prescient.”
Corsair companions Raja Hadji-Touma and Edward Wertheim added:
“Since our preliminary funding, we’ve witnessed IDnow construct vital momentum and obtain spectacular scale. We’re excited to deepen our partnership with IDnow’s administration group and help their subsequent section of progress.”
Beforehand, IDnow introduced that it has agreed to accumulate ARIADNEXT, a French firm specialising in distant id verification and digital id creation.
Featured picture credit score: edited from freepik
