Munich-based RegTech platform IDnow secures €60m debt facility

Munich-based identity proofing and digital identity provider IDnow has received a €60m debt facility.

This was supplied by funds and accounts managed by BlackRock.

With the capital, IDnow plans 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, IDnow offers a comprehensive suite of identity proofing solutions addressing a variety of use cases. It currently serves over 900 enterprise customers across 195 countries.

Companies gain access to a suite of unified methods that meet every identity verification and document signing need, as well as tools for identity management.

IDnow CEO Andreas Bodczek said, “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.”

The company recently partnered with Interpol to offer a series of training programmes to local law enforcement and immigration departments. This is a 12 month collaboration that will supply Interpol with insights into the latest trends and cases studied in fraud prevention.

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