IDnow is a player in remote auto and video identification and electronic signature services. This enables companies to acquire customers and manage transactions while complying with know your customer (KYC) and anti-money laundering (AML) regulations. The investment will primarily support IDnow's research and development (R&D) activities as well as its international growth.
This operation is part of the European Growth Finance Facility (EGFF), a product under the guarantee scheme of the European Fund for Strategic Investments (EFSI). The EGFF is designed to address quasi-equity gaps linked to structural market failures across the European Union in the provision of adequate risk capital to late-stage, venture-backed companies. European small and medium-sized enterprises (SMEs) can be helped by this initiative.
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