IDnow Receives New Debt Facility Of Up To €60M in Financing

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IDnow, a Munich, Germany-based identity proofing and digital identity provider, arranged a new debt facility that provides up to €60m in financing.

Funds and accounts managed by BlackRock provided the facility.

The company intends to use the capital to scale investments across a range of strategic initiatives including the introduction of new identity proofing solutions, continued geographic expansion, and potential acquisitions.

Founded in 2014 and led by Andreas Bodczek, CEO, IDnow offers a comprehensive suite of identity proofing solutions addressing a wide range of mission-critical use cases from low to high assurance levels. The IDnow platform offers a broad range of identity verification and document signing solutions combined with a comprehensive service offering. Ranging from automated to human-assisted, from purely online to point-of-sale, the identity proofing methods are optimised to assure the highest security standards with maximum user conversion. The company serves over 900 enterprise customers across multiple verticals with coverage of 195 countries.

IDnow has offices in Germany, United Kingdom and France and is backed by renowned institutional investors, led by Corsair Capital.