P+P advised IDnow on a new round of financing

IDnow, the leading provider of identity and eSigning solutions in Europe, has amassed multiple million Euros from Seventure, BayBG Bayerische Beteiligungsgesellschaft and business angels in the course of a series A financing round. The financial resources will be utilized for the European expansion and further development of the eSigning and identity platform.

Since 2014, IDnow has acquired over 100 customers that use the products for online personal identification and electronic conclusion of contracts. With the help of IDnow, companies can fully digitalize paper-based customer processes. This significantly increases both the conclusion rate and customer satisfaction. Almost the entire German fintech sector and leading major banks such as Commerzbank and UBS rely on IDnow's solutions.

The French venture capital fund Seventure Partners became a new investor and invested many millions in the Munich-based fintech company in the course of this round of financing. At the same time, the existing investors BayBG and multiple business angels have increased their investments.

P+P Pöllath + Partners advised IDnow with the following team:

• Christian Tönies (partner, lead, PE/VC, Munich, Berlin)
• Minkus Fischer (senior associate, PE/VC, Munich)

P+P Pöllath + Partners has advised IDNow since the establishment of the company on all legal issues.