IDnow, a Munich-based identity verification platform provider, has announced a new strategic investment from Corsair Capital, a US-based investment firm specialising in payments, software, and business services within financial services.
Corsair will acquire a majority stake in IDnow from existing shareholders, aiming to expand the company’s growth in Europe and beyond.
Founded in 2014, IDnow develops AI-powered identity verification technologies for sectors including financial services, telecommunications, travel, mobility, and gaming.
Corsair initially invested in IDnow in 2019, acquiring a minority stake.
Since then, IDnow has expanded its technological capabilities, broadened its portfolio of verification solutions, and made two acquisitions that strengthened its presence in Europe, particularly 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. 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.”
Corsair partners Raja Hadji-Touma and Edward Wertheim added:
“Since our initial investment, we’ve witnessed IDnow build significant momentum and achieve impressive scale. We are excited to deepen our partnership with IDnow’s management team and support their next phase of growth.”
Previously, IDnow announced that it has agreed to acquire ARIADNEXT, a French company specialising in remote identity verification and digital identity creation.
Featured image credit: edited from freepik
