Corsair Capital drops $295M in all cash-deal for German IDV firm IDNow

Munich-headquartered identity verification provider IDNow has announced a new strategic investment from Corsair Capital, a specialist investment firm targeting payments software and the financial services market. A press release says Corsair will acquire a majority stake in IDnow from existing shareholders, and is committed to “fueling IDnow’s continued growth and leadership position within the European identity market, and into other regions globally.” According to Sifted the $295M (€273m) all cash deal is one of biggest German fintech exits in years.

Corsair acquired a minority stake in IDnow in 2019. It says it has seen the firm build significant momentum and achieve impressive scale since then, strengthening its technical leadership position, growing its portfolio of digital identity tools and making two strategic acquisitions in Ariadnext and Trust Management AG.

“Since our founding a decade ago, IDnow has become a market leader in biometric identity verification in Germany and France,” says IDnow CEO Andreas Bodczek. “Corsair’s increased investment underscores their confidence in our vision and speaks to the synergies we have achieved through our collaborative relationship. With this deeper partnership, we can continue to transform and ensure our platform continues to evolve.”

“Building IDnow has been an incredible journey over the past 10 years together with Armin Berghaus, Dennis von Ferenczy and Sebastian Baerhold, and we believe today’s announcement enables us to strengthen our capabilities and capitalize on the vast market opportunity available to us,” says Felix Haas, executive chairman and co-founder of IDnow.

Article Topics

biometrics  |  digital identity  |  identity verification  |  IDnow  |  investment