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    Reference: 20190650
    Release date: 11 January 2021

    Promoter – Financial Intermediary

    IDNOW GMBH

    Location

    Description

    IDnow provides remote secure auto and video identification and electronic signature services. This enables companies to acquire customers and manage transactions faster and easier, while complying with regulations such as Know Your Client (KYC) and Anti-Money Laundering (AML). The investment will primarily support research and development (R&D) activities as well as the international growth of the company.

    Objectives

    IDnow is an innovative growth stage company, which plans to scale up its activity by reaching new clients and continuously improving its technology and solutions. The EIB financing will support the company in its R&D investments as well as its international expansion.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 15 million

    Total cost (Approximate amount)

    EUR 48 million

    Environmental aspects

    The project activities do not fall under the Annexes I or II of the EU Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental impact assessment (EIA).

    Procurement

    The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and thus is not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project.

    Status

    Signed - 3/12/2020

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Germany Services