Munich fintech start-up IDnow has raised 40 million USD from New York investor Corsair capital. The company says it plans to use the windfall to open further offices in France and Britain.
IDnow verifies identities in conjunction with contracts, for instance, the online opening of a bank account. The firm, which was founded in 2014, has 250 customers including Bank of Scotland, BNP Paribas, Commerzbank, Sixt, Telefonica Deutschland, UBS, Western Union, Wirecard, N26, Smava and Wefox.
“We’re proud to have gained Corsair as a long-term partner and look forward to profiting from its deep experience in the sector and strong global network,” says IDnow CEO Andreas Bodczek.
“IDnow is excellently positioned to offer innovative and effective solutions that meet the urgent challenges of digital security and the fight against fraud on the European market and beyond,” added Corsair Capital Managing Director Raja Hadji-Touma.