TMT ID, a company that helps global organisations verify users and prevent fraud, has secured a £30m investment from BGF.
The funding marks a major step for the firm as it looks to scale its technology and strengthen its role in tackling cybercrime and digital identity risks.
The £30m injection comes from BGF, recognised as one of the UK and Ireland’s most active growth capital investors. This latest deal represents TMT ID’s first institutional partnership, having previously relied largely on self-funding. The investment arrives during a period of strong demand for its services, with the company reporting 30% growth so far this year and an 80% surge in revenue across its identity and fraud product suite.
TMT ID’s platform uses mobile network data to help businesses validate identities in real time, detect risk, and ensure online safety requirements are met. Its solutions support online account opening, authentication, transaction monitoring and age verification, all underpinned by a data network spanning more than three billion phone numbers across over 200 countries and territories.
The system carries out more than 100m checks daily through direct integrations with mobile network operators, enabling organisations to spot transaction fraud, SIM-swap activity and port-out threats quickly.
The new funding will be used to expand TMT ID’s product range, accelerate international growth—particularly in the US—and strengthen its existing customer base of more than 200 organisations. The company aims to assist firms across tech, finance and e-commerce as they respond to rising levels of online fraud and stringent new regulatory expectations, including compliance with protections due under the UK Online Safety Act in July 2025.
Additional details from the announcement underline the sector’s broader challenges. Fraud losses worldwide hit US$1tn in 2024, while the age verification market is forecast to double from US$4bn to US$8bn within four years. TMT ID’s leadership believes its technology positions the firm to help businesses manage these risks effectively. The company was founded by John Wilkinson and Fergal Parkinson, who anticipated that the mobile phone would become the most important digital key to establishing trust. In 2023, the firm completed its acquisition of Phronesis Technologies, a major step in developing its identity solutions.
TMT ID CEO John Wilkinson said: “We are delighted to announce BGF’s investment in TMT ID. At a time when fraud and digital threats are escalating worldwide, the ability to verify users, detect risk, and protect customers has never been more critical. TMT ID’s mobile identity and number intelligence solutions deliver real-time insights that allow enterprises to build trust, prevent fraud and optimise decision-making.
“BGF’s investment marks a significant milestone in our continued growth trajectory. It provides the strategic partnership needed to accelerate innovation, strengthen our global reach, and expand the depth and breadth of our services. We look forward to working closely with BGF to scale our technology and continue setting new benchmarks for trust and customer confidence in the digital economy.”
The deal was led by Matthew Connor, Elena Kovalikhina, Dylan Kaye and Alex Snodgrass from BGF’s London team. In addition, David Quantrell will join TMT ID’s board as non-executive chair, bringing experience from roles at Speechmatics, Retail Insight, LineView, Egress, Oxford Metrics, Nortel Networks, Hewlett Packard, McAfee and Box.
BGF investor Matthew Connor said: “TMT ID combines smart technology with a proven commercial model in one of the fastest-growing areas of the digital economy. This investment reflects our confidence in the team’s vision and capability to expand internationally, particularly into the US market, and we are proud to back a business that is redefining digital trust.”
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