Inverid Joins Forces with European Identity Leader Signicat

Signicat, the leading pan-European digital identity platform, has announced its acquisition of Inverid, the pioneering Dutch provider of NFC-based digital identity verification solutions, for an undisclosed sum from majority shareholder Main Capital and the founders. Existing shareholders will reinvest a substantial part of the consideration in Signicat, underlying their strong support of the combination. The acquisition strengthens Signicat’s offering with Inverid’s flagship solution, ReadID, which has set the global standard for NFC-based identity document verification.

First launched in 2014, ReadID was the world’s first NFC-based mobile identity verification solution, providing a high level of assurance and reliability for sectors requiring rigorous identity checks. Inverid’s client list spans both public and private sectors, including governments, financial institutions, and border control authorities. 

In the past three years, with the backing of Main Capital, Inverid has made substantial investments in both R&D - marked by the opening of a dedicated hub in Valencia - and in strengthening its go-to-market capabilities. As a result, the company has secured key industry tenders, tripled its revenue, and increased profitability fourfold. 

Signicat has heavily expanded its European footprint over the last years through large organic investments in development of new products, but also through eight strategic bolt-on acquisitions to strengthen its proprietary technology, customer base, and market expertise. Inverid joins a platform which includes other industry-leading solutions such as high-security app-based mobile authentication, unparalleled eIDAS-compliant video-based identity verification solutions, the world’s by far largest hub of national eIDs, and leading anti-fraud orchestration solutions like RiskFlow and Mint.  

Maarten Wegdam, CEO Inverid: "By combining our identity verification technology with Signicat’s global platform and unique identity and orchestration solutions, we can support that growing market perfectly."

This acquisition underscores Signicat’s ambition to lead the digital identity ecosystem by providing customers with high-assurance solutions perfectly tailored to address today’s challenges. For financial institutions, public services, or any organisation navigating stringent compliance and security standards, the integration of Inverid into Signicat’s portfolio offers a state-of-the-art, secure, and scalable suite of solutions to modernise identity verification efforts.  

Source: Inverid