Signicat, a Norway-based digital id platform, has acquired Inverid, a Dutch firm specialising in NFC-based id verification, for an undisclosed quantity.
The deal sees Inverid’s majority shareholder, Principal Capital, and the corporate’s founders reinvest a good portion of the proceeds into Signicat.
The acquisition brings Inverid’s ReadID expertise underneath Signicat’s platform.
ReadID, launched in 2014, was the primary cellular id verification answer based mostly on NFC expertise and is utilized by each private and non-private sector purchasers.
It holds certifications together with ISO27001, ISO27701, SOC2 Sort II, and eIDAS Degree of Assurance Excessive.
“Inverid’s NFC-based answer enhances our doc verification capabilities,”
mentioned Asger Hattel, CEO of Signicat.
“This transaction helps our aim of providing sturdy fraud prevention instruments whereas enhancing digital id processes.”
Maarten Wegdam, CEO of Inverid, mentioned the businesses share cultural and regional foundations.
“The market is shifting in direction of safe, built-in options. By combining our expertise with Signicat’s platform, we’re well-positioned to fulfill this demand.”
Inverid’s purchasers embody Rabobank, Frontex, and authorities companies within the UK and Denmark.
The corporate has expanded considerably lately, opening an R&D hub in Valencia and tripling its income underneath Principal Capital’s possession.
Signicat has grown via a mix of natural product growth and strategic acquisitions.
Its platform consists of cellular authentication, video-based id verification, and fraud prevention instruments.
Featured picture credit score: Signicat