Identity proofing and digital identity provider IDnow announces the successful arrangement of a new debt facility from funds and accounts managed by BlackRock providing access to €60 million for growth.
Dubai, UAE & Munich, Germany: IDnow, a leading identity proofing and digital identity provider, has successfully arranged a new debt facility from funds and accounts managed by BlackRock that provides up to €60 million in financing. The debt facility will enable IDnow to leverage its existing market-leading identity platform. 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.
IDnow was founded in 2014 in Munich and offers a comprehensive suite of identity proofing solutions addressing a wide range of mission-critical use cases from low to high assurance levels. IDnow serves over 900 sector-leading enterprise customers across multiple verticals with coverage of 195 countries. The company is a demonstrated technology leader, with advanced AI-driven capabilities and a vertical orchestration platform maximising conversion and accuracy.
Andreas Bodczek, CEO of IDnow states: “We are proud to have been able to raise financing to support IDnow’s business objectives to further grow the company. Securing this debt facility from BlackRock reflects their high confidence in the strength of our business. The funding comes at the perfect time for IDnow to continue driving our ambitious growth strategy and we look forward to working with BlackRock.”
Joe Lichtenberger, CFO of IDnow added: “This financing facility caps a string of commercial successes that continue to propel IDnow’s strong growth. The facility will allow us to continue investments in our growth areas. BlackRock is a great partner for IDnow going forward.”
About IDnow Middle East Ltd.
IDnow Middle East Ltd. is a leading identity proofing platform with a vision to make the connected world a safer place. IDnow group was originally founded in Germany and has expanded across Western Europe and the Middle East. Its first non-European office was established under IDnow Middle East Ltd. in early 2022, serving the MEA region’s identity proofing and digital identity market from offices in DIFC’s Innovation Hub.
The IDnow platform provides a broad portfolio of identity verification solutions, ranging from automated to human-assisted from purely online to point-of-sale, each of them optimized for user conversion rates and security.
IDnow group is backed by renowned institutional investors, including Corsair Capital and Seventure Partners. Its portfolio of over 670 international clients, spans a wide range of industries, and includes leading international players, such as Western Union, UBS, Commerzbank, Sixt and Munich Re, as well as digital champions like N26, Solarisbank, wefox and Tier mobility.