The €60 million financing will enable IDnow to further expand its existing identity platform. The Munich-based company plans to use the capital for a number of strategic initiatives, including the introduction of new identity verification solutions, continued geographical expansion, and potential acquisitions.
The Munich-based startup was founded in 2014 by Dennis von Ferenczy, Sebastian Bärhold, Armin Bauer, and Felix Haas and specializes in identity verification solutions such as auto- and video identification and electronic signatures. According to the company, it now serves 900 industry-leading corporate customers in 195 countries. Last year, the number of transactions processed was also doubled.
“Financing comes at an ideal time”
Andreas Bodczek, CEO of IDnow, explains:
"We are proud that we have been able to raise financing that supports IDnow's business objectives and enables further company growth. The fact that we have secured debt financing from Blackrock Blackrock's strong confidence in the strength of our company demonstrates our ability to secure this financing. This financing comes at an ideal time for IDnow to further advance our ambitious growth strategy. We look forward to working with Blackrock."
“Excellent partner for the future”
And Joe Lichtenberger, CFO of IDnow, adds:
"This financing caps a series of business successes that further accelerate IDnow's strong growth. It will enable us to continue investing in our growth areas. Blackrock is an excellent partner for IDnow's future."
