P+P advises FinTech company IDnow on financing by Giesecke+Devrient

The Munich-based FinTech company IDnow receives a significant multi-million Euro investment of new capital and thereby enters into a strategic partnership with Giesecke+Devrient Ventures. The total financing of IDnow GmbH is now over 10 million Euro. In addition, Giesecke+Devrient Mobile Security and die IDnow combine their expertise and resources in order to jointly develop AI-based biometric and security technologies and provide global solutions for secure digital identification.

IDnow offers an identity-as-a-service platform based on the most advanced deep learning technology worldwide, through which the identity of more than 6.3 billion people from 115 different countries can be verified in real time. The patented solutions for video identification and e-signing help customers save money, improve the customer conversion rates and streamline the onboarding process. In 2017, IDnow received the award for "Most Successful Fintech".

Giesecke+Devrient is a global security technology group headquartered in Munich. G+D develops, produces and distributes products and solutions for secure payment, connectivity, management of identities and digital security. The company's customers include central and commercial banks, mobile network operators and businesses, as well as governments and public authorities. In fiscal year 2017, the company generated turnover of 2.14 billion.

P+P advised IDnow on the financing round with the following team:

• Christian Tönies (partner, lead, M&A/venture capital, Munich/Berlin)
• Dr. Sebastian Gerlinger (senior associate, M&A/venture capital, Munich/Berlin)
• Georg Seitz (associate, M&A/venture capital, Munich)