European identity verification platform IDnow is buying identity Trust Management AG, provider of digital and offline identification solutions based in Germany. identity Trust Management AG says it has established itself as a key player in the German identity market over the last decade, with a particularly strong reputation and portfolio of clients across the telecommunications and insurance verticals.
This transaction aims to expand the portfolio of verification methods offered via the IDnow platform. The combined product portfolio will offer a set of identity verification methods ranging from automated to human-assisted and from purely online to point-of-sale. All these methods will be made available via the unified platform. The acquisition will allow IDnow to expand into new industry verticals and provide its services to a broader customer base throughout Germany and beyond. IDnow has offices in Germany, the United Kingdom and France and is backed by institutional investors, including Corsair Capital and Seventure Partners. Its portfolio of over 300 international clients, spans a wide range of industries, and includes international players such as Western Union, UBS, Commerzbank, Sixt and Munich Re, as well as digital champions like N26, Solarisbank, wefox and Tier mobility.
"identity Trust Management AG has built an impressive company both in terms of product portfolio and client relationships,” said Andreas Bodczek (pictured), CEO at IDnow. “We have known the leadership team for years and have established a partnership rooted in deep loyalty and mutual understanding. We are excited to welcome identity Trust Management AG’s talented team to the IDnow family and look forward to combining the strengths of both companies to create a unified, market-leading brand.”
IDnow will retain identity Trust Management AG’s Düsseldorf location as well as its employees.