The Munich startup announces a million-dollar investment and the entry of Giesecke+Devrient as a strategic partner IDnowWith the current investment in the millions, more than ten million euros are now invested in the fintech.
Only recently IDnow announced that a patent dispute that had been ongoing since 2016 has been decided in its favor. Now, the next success story: The fintech has entered into a partnership agreement with Giesecke+Devrient Mobile Security (G+D). The two Munich-based companies are combining their expertise in biometric and AI technologies. The initial goal is to develop a product for fully automated remote identification, which G+D will then add to its portfolio and distribute worldwide.
Million-dollar investment and strategic partner for research and sales
Giesecke+Devrient Ventures has also invested a "significant sum of millions" in IDnow and now holds a minority stake in the startup. This will accelerate research, development, and international expansion.
The security solutions group and IDnow, a leading technology provider in the online sector, plan to offer solutions for secure digital identification worldwide through this cooperation. The global market for the capture and management of digital identities is estimated at over ten billion euros.
“We are very pleased about the vote of confidence shown by Giesecke+Devrient and look forward to the opportunity to jointly offer flexible, high-performance and AI-supported products for digital identification worldwide in the future,”
says Rupert Spiegelberg, CEO of IDnow. G+D's global presence and expertise are particularly helpful. Product development, in turn, should focus on reliability and efficiency in fraud detection.
“In our core areas of payment and connectivity, secure identity management is central to our customers’ trust,”
so Carsten Ahrens, CEO of G+D Mobile Security. He adds:
"A positive digital user experience begins with a secure and convenient registration process. We are pleased that the partnership between IDnow and G+D Mobile Security will complement our range of secure identification solutions."
The first joint customer projects have probably already started.
