IDnow receives new capital from Giesecke+Devrient
Munich — Munich-based FinTech company IDnow receives new capital in the significant millions, concluding a strategic cooperation with Giesecke+Devrient Ventures. This brings IDnow GmbH’s total financing to over 10 million euros. In addition, Giesecke+Devrient Mobile Security and IDnow are combining their expertise and resources to jointly develop AI-powered biometrics and security technologies and provide global solutions for secure digital identification.
IDnow offers an Identity-as-a-Service platform based on the world’s most advanced Deep Learning technology, through which the identities of more than 6.3 billion people from 115 different countries can be verified in real time. Its patent-protected video identification and eSigning solutions help customers save money, improve customer acquisition conversion rates and streamline the onboarding process. IDnow was awarded the “Most Successful Fintech” award in 2017.
Giesecke+Devrient is a global security technology group headquartered in Munich. G+D develops, manufactures and markets products and solutions for payment, connectivity, identity management and digital security. The Group’s customers include central banks and commercial banks, mobile communications providers, corporations, and governments and public authorities. In fiscal 2017, the company generated sales of 2.14 billion.
Advisor IDnow: P+P
Christian Tönies, LL.M. Eur. (Partner, Lead Partner, M&A/Venture Capital, Munich/Berlin)
Dr. Sebastian Gerlinger, LL.M. (Senior Associate, M&A/Venture Capital, Berlin/Munich)
Dr. Georg Seitz (Associate, M&A/Venture Capital, Munich)