Munich-based IDnow lands new €60 million debt facility to power up expansion plans
Summary
Founded in 2014, IDnow has developed an identity verification platform that is now one of the sector leaders in Europe, providing expert and secure, remote auto and video identification and electronic signature services. Plans are in motion to use the funding to scale investments across a range of strategic initiatives – including, developing new identity-proofing solutions, continued geographic expansion, and potential acquisitions. Ranging from automated to human-assisted, from purely online to point-of-sale, the identity proofing methods are optimised to assure the highest security standards with maximum user conversion. IDnow serves over 900 sector-leading enterprise customers across multiple verticals with coverage of 195 countries. Backed by renowned institutional investors, led by Corsair Capital, international clients include prominent names such as Western Union, UBS, Sixt and Munich Re, as well as digital champions like N26, Solarisbank, wefox and Tier Mobility.
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