TPG invests $60m in Au10Tix

The investment from TPG gives Au10Tix a post-money valuation of $260m. The GP secured a minority stake in the business.

TPG invested via TPG Tech Adjacencies, which closed on $1.6bn in May. The fresh funding is earmarked to boost the company's growth; the GP stated that Au10Tix had already been experiencing triple-digit growth, fueled by growth in its existing customer base as well as new customer acquisitions.

Company
Founded in 2006 and based in Nicosia, Au10Tix is a cloud-based, machine-learning, ID verification and authentication platform. Its products are geared towards customer onboarding and "Know Your Customer" automation. It aims to provide results in less than 8 seconds, allowing companies to prevent fraud and meet compliance mandates.

People
TPG - Arun Agarwal (investor).

 

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• Topics
• Expansion
• Technology
• Southern Europe
• TPG
• Cyprus