Corsair Capital backs $40m round for IDNow

The company will use the fresh capital to expand its product range and to continue its expansion in Europe, including the opening of new offices in France and the UK.

Corsair generally invests $50-100m per deal in companies with an enterprise value of $100-500m. The firm recently acquired a majority stake in Norwegian consumer credit and loan brokerage company Axo Finans.

Previous funding
In September 2016, Bayerische Beteiligungsgesellschaft (BayBG), Seventure Partners and business angels led a funding round for the business. Prior to this, in July 2015, BayBG led a round for IDNow for an undisclosed amount.

Company
IDNow was founded in 2014 and is headquartered in Munich. It also has an office in Paris. The company provides ID verification software for businesses and has partnerships with companies including Commerzbank, UBS and Telefónica. The company has 103 employees, according to LinkedIn.

People
IDNow – Andreas Bodczek (CEO)

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• Topics
• Expansion
• DACH
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• Germany