IDnow secures investment to expand global identity market
IDnow has announced a strategic majority investment from Corsair Capital, a significant development for the digital identity verification platform in Europe.
The investment will see Corsair Capital, a firm specialising in payments, software, and business services within the financial market, acquiring a majority stake in IDnow. This transaction is intended to enhance IDnow's position in the European identity market and expand its reach to other regions around the globe.
IDnow, founded in 2014, develops AI-driven identity verification technologies designed to meet the needs of global enterprises, including those in financial services, telecommunications, travel and mobility, and gaming. With Corsair's backing, IDnow aims to broaden its technological leadership and portfolio of identity solutions, following its initial investment in 2019 that supported two strategic acquisitions and geographic expansion, including a significant presence in France.
IDnow CEO Andreas Bodczek stated, "Since our founding a decade ago, IDnow has become a market leader in identity verification in Germany and France. During this time, we have achieved significant success in delivering strong results and growing our customer base, and with today's announcement we aim to solidify our commitment to positioning the Company for future success. Corsair's increased investment underscores their confidence in our vision and speaks to the synergies we have achieved through our collaborative relationship. With this deeper partnership, we can continue to transform and ensure our platform continues to evolve."
Corsair's partners, Raja Hadji-Touma and Edward Wertheim, also expressed enthusiasm about the increased collaboration, stating, "We are thrilled to expand our partnership with IDnow. Since our initial investment, we've witnessed IDnow build significant momentum and achieve impressive scale. We are excited by the opportunity to deepen our partnership with IDnow's talented management team, and we look forward to supporting their next chapter of innovation and growth."
Felix Haas, Executive Chairman and Co-Founder of IDnow, reflected on the company's progress and future potential, "Building IDnow has been an incredible journey over the past 10 years together with Armin Berghaus, Dennis von Ferenczy and Sebastian Baerhold, and we believe today's announcement enables us to strengthen our capabilities and capitalize on the vast market opportunity available to us. Corsair's resources and expertise will help accelerate growth and unlock new opportunities for the Company and I'm confident this partnership will drive progress and expansion in ways that will benefit IDnow, its customers and the industry as a whole."
IDnow is an identity verification platform provider in Europe with a vision to make the connected world a safer place. The IDnow platform provides a broad portfolio of identity verification solutions, ranging from automated to human-assisted from purely online to point-of-sale, each of them optimised for user conversion rates and security.
In 2021, IDnow acquired the French market leader for identity technology, ARIADNEXT, and the German identity Trust Management AG, enabling IDnow to offer its customers one of the broadest identification solutions through a single, integrated platform. The company has offices in Germany, United Kingdom, and France and is backed by institutional investors, including Corsair Capital and Seventure Partners.
Corsair is a specialist investment firm offering opportunities for investors and solutions for companies across its private markets Buyouts and Infrastructure businesses. The firm's buyouts business is a financial services investor focused on making control investments in three verticals: payments, software, and business services. The infrastructure business operates as a strategic partnership with Investcorp as of December 2023.
Investcorp Corsair focuses primarily on value-add opportunities in transportation, logistics, and associated infrastructure subsectors, blending operating platforms and deep sectoral expertise with equity sponsorship. Corsair has invested $13.6 billion in capital across buyouts and infrastructure since inception.
