Munich, Luxem\u00adbourg \u2014 IDnow, a leading provi\u00adder of Iden\u00adtity Veri\u00adfi\u00adca\u00adtion-as-a-Service solu\u00adti\u00adons, recei\u00adves 15 million in growth funding from the Euro\u00adpean Invest\u00adment Bank. The funds will be used for IDno\u00adw\u2019s rese\u00adarch, deve\u00adlo\u00adp\u00adment and inter\u00adna\u00adtio\u00adnal expan\u00adsion. The finan\u00adcing of the Bank of the EU is made possi\u00adble by the Invest\u00adment Plan for Europe.<\/p>\n
The Euro\u00adpean Invest\u00adment Bank (EIB) is awar\u00adding EUR 15 million in growth finan\u00adcing to the German iden\u00adtity veri\u00adfi\u00adca\u00adtion plat\u00adform IDnow. IDnow specia\u00adli\u00adzes in secure remote auto and video iden\u00adti\u00adfi\u00adca\u00adtion and elec\u00adtro\u00adnic signa\u00adtures. Compa\u00adnies can thus acquire custo\u00admers and carry out tran\u00adsac\u00adtions more quickly and easily without viola\u00adting \u201cKnow Your Custo\u00admer\u201d and money laun\u00adde\u00adring regu\u00adla\u00adti\u00adons. The invest\u00adment will prima\u00adrily go towards IDno\u00adw\u2019s rese\u00adarch and deve\u00adlo\u00adp\u00adment acti\u00advi\u00adties and inter\u00adna\u00adtio\u00adnal expansion.<\/p>\n
The finan\u00adcing falls under the Euro\u00adpean Growth Finance Faci\u00adlity (EGFF), made possi\u00adble by the guaran\u00adtee of the Euro\u00adpean Fund for Stra\u00adte\u00adgic Invest\u00adments (EFSI). EGFF is desi\u00adgned to fill a gap in quasi-equity finan\u00adcing in Europe. This gap is caused by struc\u00adtu\u00adral market fail\u00adures in provi\u00adding suita\u00adble venture capi\u00adtal to compa\u00adnies that have alre\u00adady recei\u00adved venture capi\u00adtal and are now in a later stage. Euro\u00adpean small, medium and mid-cap compa\u00adnies often suffer from a syste\u00admic shortage of non-dilu\u00adtive large-scale finan\u00adcing for growth invest\u00adments in property, plant and equip\u00adment and intan\u00adgi\u00adble assets. The bene\u00adfit of the EFSI in this case is that it signi\u00adfi\u00adcantly impro\u00adves the bank\u2019s risk-bearing capacity.<\/p>\n
The EFSI is the main pillar of the Invest\u00adment Plan for Europe, in which the EIB and the Euro\u00adpean Commis\u00adsion work toge\u00adther as stra\u00adte\u00adgic part\u00adners. With its loans, the EIB is helping to make the Euro\u00adpean economy more compe\u00adti\u00adtive. In addi\u00adtion, there is the Euro\u00adpean Invest\u00adment Advi\u00adsory Hub (EIAH), which helps public and private project promo\u00adters struc\u00adture invest\u00adment projects in a more profes\u00adsio\u00adnal manner.<\/p>\n
Ambroise Fayolle, EIB Vice-Presi\u00addent over\u00adsee\u00ading EFSI as well as the Bank\u2019s opera\u00adti\u00adons in Germany, said: \u201cIDnow, which is recei\u00adving an EIB loan for the first time, has to invest signi\u00adfi\u00adcantly in its rese\u00adarch, deve\u00adlo\u00adp\u00adment and commer\u00adcia\u00adliza\u00adtion acti\u00advi\u00adties. This loan is an excel\u00adlent exam\u00adple of how the EU\u2019s bank can use the Invest\u00adment Plan for Europe to foster inno\u00adva\u00adtion, espe\u00adci\u00adally in sensi\u00adtive areas such as the fight against money laun\u00adde\u00adring and terro\u00adrist finan\u00adcing, as well as cyber\u00adse\u00adcu\u00adrity, which are of great stra\u00adte\u00adgic importance to the EU and its economy.\u201d<\/p>\n
Euro\u00adpean Commis\u00adsio\u00adner for Econo\u00admic Affairs Paolo Genti\u00adloni said: \u201cAs more and more of our inter\u00adac\u00adtions take place online, it is more important than ever that we streng\u00adthen data secu\u00adrity and fraud preven\u00adtion. It is right that the Invest\u00adment Plan for Europe contri\u00adbu\u00adtes to these efforts. This support will enable the German plat\u00adform IDnow to expand its services for digi\u00adtal iden\u00adtity veri\u00adfi\u00adca\u00adtion of custo\u00admers and busi\u00adness part\u00adners. We are inves\u00adt\u00ading in a secure busi\u00adness envi\u00adron\u00adment online, one of the goals of our digi\u00adtal finance strategy.\u201d<\/p>\n
IDnow CFO Joe Lich\u00adten\u00adber\u00adger said, \u201cCovid-19 has noti\u00adce\u00adably boos\u00adted demand for digi\u00adtal services, and thus for our \u2018veri\u00adfi\u00adca\u00adtion as-a-service\u2019 solu\u00adtion, across various indus\u00adtries and geogra\u00adphies. EIB\u2019s flexi\u00adble finan\u00adcing helps us to invest faster in the deve\u00adlo\u00adp\u00adment of the plat\u00adform and take advan\u00adtage of busi\u00adness oppor\u00adtu\u00adni\u00adties. The EIB is the ideal part\u00adner for us to estab\u00adlish oursel\u00adves as a leading Euro\u00adpean iden\u00adtity veri\u00adfi\u00adca\u00adtion provider.\u201d<\/p>\n
With its Iden\u00adtity Veri\u00adfi\u00adca\u00adtion as a Service (IVaaS) plat\u00adform, IDnow is on a mission to make the connec\u00adted world a safer place. IDno\u00adw\u2019s unma\u00adni\u00adpulable iden\u00adtity veri\u00adfi\u00adca\u00adtion is used in all indus\u00adtries where compa\u00adnies conduct online custo\u00admer inter\u00adac\u00adtions that require the highest level of secu\u00adrity. IDnow tech\u00adno\u00adlogy uses arti\u00adfi\u00adcial intel\u00adli\u00adgence to ensure that all secu\u00adrity features are present on an ID docu\u00adment and can ther\u00ade\u00adfore relia\u00adbly detect coun\u00adter\u00adfeit docu\u00adments. Poten\u00adti\u00adally, the iden\u00adti\u00adties of more than 7 billion custo\u00admers from 193 diffe\u00adrent count\u00adries can be verified.
\nIDnow covers a wide range of use cases both in regu\u00adla\u00adted indus\u00adtries in Europe and for comple\u00adtely new digi\u00adtal busi\u00adness models world\u00adwide. Through the plat\u00adform, iden\u00adtity flow can be custo\u00admi\u00adzed on a case-by-case basis to meet regio\u00adnal, legal and busi\u00adness requirements.
\nIDnow is supported by venture capi\u00adtal inves\u00adtors Corsair Capi\u00adtal, BayBG, Seven\u00adture Part\u00adner, G+D Ventures and a consor\u00adtium of renow\u00adned busi\u00adness angels. Its more than 250 custo\u00admers include leading inter\u00adna\u00adtio\u00adnal compa\u00adnies from various indus\u00adtries such as Bank of Scot\u00adland, BNP Pari\u00adbas, Commerz\u00adbank, even\u00adtim, Raisin (Welt\u00adspa\u00adren), Sixt, sola\u00adris\u00adBank, Tele\u00adf\u00f3\u00adnica Deutsch\u00adland, UBS and Western Union, as well as fintechs such as Fidor, N26, smava and wefox.<\/p>\n
The Euro\u00adpean Invest\u00adment Bank<\/strong><\/p>\n The Euro\u00adpean Invest\u00adment Bank (EIB) is the long-term lending insti\u00adtu\u00adtion of the Euro\u00adpean Union. Its share\u00adhol\u00adders are the member states of the EU. The EIB lends long-term funds to sound projects that meet EU objectives.<\/p>\n The invest\u00adment offen\u00adsive for Europe Munich, Luxem\u00adbourg \u2014 IDnow, a leading provi\u00adder of Iden\u00adtity Veri\u00ad\u00adfi\u00ad\u00adca\u00ad\u00adtion-as-a-Service solu\u00adti\u00adons, recei\u00adves 15 million in growth funding from the Euro\u00adpean Invest\u00adment Bank. The funds will be used for IDno\u00adw\u2019s rese\u00adarch, deve\u00adlo\u00adp\u00adment and inter\u00adna\u00adtio\u00adnal expan\u00adsion. The finan\u00adcing of the Bank of the EU is made possi\u00adble by the Invest\u00adment Plan for Europe. The Euro\u00adpean Invest\u00adment Bank [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":36412,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1365,1366,1369],"tags":[],"class_list":["post-43539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-private-equity-en","category-news-en","category-investors","news-category-private-equity-news-en"],"yoast_head":"\n
\n<\/strong>
\nThe Invest\u00adment Plan for Europe aims to boost invest\u00adment in Europe and thus create jobs. Through guaran\u00adtees from the Euro\u00adpean Fund for Stra\u00adte\u00adgic Invest\u00adments (EFSI), the EIB and the EIF are able to assume a larger share of the project risk, making it easier for private finan\u00adciers to also parti\u00adci\u00adpate in the projects. The projects and agree\u00adments appro\u00adved so far for EFSI-guaran\u00adteed finan\u00adcing are expec\u00adted to mobi\u00adlize \u20ac535.4 billion in invest\u00adments and bene\u00adfit over 1.4 million start-ups and small and medium-sized enter\u00adpri\u00adses across all EU countries.<\/p>\n","protected":false},"excerpt":{"rendered":"