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Founded Year

2014

Stage

Incubator/Accelerator - IV | Alive

Total Raised

$119.3M

Mosaic Score
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

+20 points in the past 30 days

About IDnow

IDnow provides an identity verification platform. It provides automated artificial intelligence (AI)‑based verification and electronic contract signing. It serves finance, mobility, esports, travel, insurance, gaming, cryptocurrency, and telecommunication industries The company was founded in 2014 and is based in Munich, Germany.

Headquarters Location

Auenstrasse 100

Munich, 80469,

Germany

+49 89 413 24 600

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IDnow's Products & Differentiators

    AutoIdent

    AI and machine learning-based identity verification and and backed by the expertise of a network of top identity and fraud specialists for the best of both worlds. A fast, easy and flexible solution available anytime and anywhere.

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Expert Collections containing IDnow

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

IDnow is included in 5 Expert Collections, including Payments.

P

Payments

2,821 items

Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.

A

Artificial Intelligence

11,616 items

Companies developing artificial intelligence solutions, including cross-industry applications, industry-specific products, and AI infrastructure solutions.

C

Cybersecurity

8,428 items

These companies protect organizations from digital threats.

F

Fintech

12,502 items

Excludes US-based companies

D

Digital ID In Fintech

268 items

For this analysis, we looked at digital ID companies working in or with near-term potential to work in fintech applications. Startups here are enabling fintech companies to verify government documents, authenticate with biometrics, and combat fraudulent logins.

Latest IDnow News

IDnow fraud survey reveals: 33% of Brits share sensitive ID documents unprotected online, with youth most at risk

Feb 20, 2024

A major survey  into attitudes and knowledge around fraud in the UK has been unveiled, with findings indicating a lack of knowledge around key tactics used by fraudsters, leaving Brits vulnerable to this crime, which is seeing exponential growth. Commissioned by IDnow , a leading identity verification platform provider, the YouGov survey of 2,264 people has uncovered that almost half (45%) of UK adults were aware that scans or photos of their ID documents could be obtained by criminals to be used to commit fraud – yet sent the documents via digital channels, such as email, social media and messenger apps anyway. Such activity could lead to identity theft, which IDnow believes should be a concern to the UK public, especially given the rise in deepfake technology. Developments in generative artificial intelligence (AI) mean deepfake technology can now be used to create hyper-realistic fake documents, as well as videos. However, the survey found that less than a third (31%) of Britons know what deepfake documents are and are aware of the potential risks posed by digitally generated images of physical documents. Lovro Persen, Director Document and Fraud at IDnow, commented: “Many of us have seen the uncanny deepfake videos of celebrities that spread like wildfire across the internet, showing how easy it is to emulate the likeness of someone using AI. But worryingly, this research suggests that the UK public is not as concerned, or aware as they should be, of the risks associated with such digitally generated images or videos. “The extraordinary leaps in AI technology mean it’s now almost too easy for a fraudster to carry out financial crimes. Consumers shouldn’t make it even easier for fraudsters though. Our advice is always to think twice before sending a scan or photo of your driving licence or passport into the digital ether via unencrypted channels, such as social media or email.” Interestingly, 48% of 18- to 24-year-olds surveyed have shared ID documents via such risky channels, compared with just 21% of over-55s, highlighting the potential need to better educate the younger generation on digital fraud threats. Is fraud front of mind? The survey also revealed that three-quarters of Brits are most concerned about banking fraud, when asked about the different areas of life where fraud could occur. An additional 37% of Brits are most concerned about fraud via social media channels. With 54% of Brits unfamiliar with social engineering, encompassing deceptive tactics such as phishing or smishing, the majority of the population remains vulnerable to potential fraud attempts. Social engineering, one of the most prevalent and hard to catch fraud typologies, sees fraudsters manipulating trust or fear, putting consumers at risk of divulging sensitive information or falling prey to malicious links disguised as trustworthy messages. In terms of the likelihood of being a victim of crime, a fifth (21%) of Brits believe they are most at risk of someone hacking their social media profile. In fact, social media was the primary security concern for those aged 18- to 24-years-old, with each remaining age group citing their main worry as someone accessing their bank account through identity fraud. Hence, for accounts connected to larger sums or investments, three quarters of Brits (75%) would be willing to go through a lengthier online onboarding process, if this made it safer. Doug Pollock, Vice President Customer Success at IDnow, explained: “Our findings show that banks in the UK do not always go far enough to make their customers feel safe and secure. They need to go further in terms of fraud prevention technology to meet their customers’ risk appetite, especially when their money is at stake. Because, and our research confirms this, if banks get it wrong, the majority of people (54%) would consider moving banks were they to become a victim of fraud. “We hope these findings highlight the massive impact online fraud continues to have on British people. Because fraudsters work across industries, regions and use cases, it’s vital we all work together – financial services, technology providers, government, law enforcement and the public – to identify and stop fraudsters before it’s too late.” People In This Post Fintech Fintech Fintech Fintech Fintech

IDnow Frequently Asked Questions (FAQ)

  • When was IDnow founded?

    IDnow was founded in 2014.

  • Where is IDnow's headquarters?

    IDnow's headquarters is located at Auenstrasse 100, Munich.

  • What is IDnow's latest funding round?

    IDnow's latest funding round is Incubator/Accelerator - IV.

  • How much did IDnow raise?

    IDnow raised a total of $119.3M.

  • Who are the investors of IDnow?

    Investors of IDnow include Accelerate@IATA, BlackRock, NVIDIA Inception Program, European Investment Bank, Plug and Play Ventures and 9 more.

  • Who are IDnow's competitors?

    Competitors of IDnow include Evrotrust, Onfido, Newky, Fourthline, Signzy and 7 more.

  • What products does IDnow offer?

    IDnow's products include AutoIdent and 4 more.

  • Who are IDnow's customers?

    Customers of IDnow include N26 GmbH, UBS AG, Audi AG and Entain Operations Limited (formerly GVC Services Limited).

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Compare IDnow to Competitors

Jumio Logo
Jumio

Jumio is a company that specializes in identity verification solutions, operating within the technology and cybersecurity sectors. The company offers services that help organizations verify identities and detect fraud throughout the customer lifecycle, using artificial intelligence and machine learning to provide predictive fraud insights and risk analysis. Jumio primarily serves sectors such as financial services, healthcare, online gaming, and the sharing economy. Jumio was formerly known as Jumio, Inc.. It was founded in 2012 and is based in Palo Alto, California.

Veriff Logo
Veriff

Veriff develops an artificial intelligence (AI) driven visionary verification platform. It provides AI-powered identity verification solutions for identity fraud prevention, know-your-customer compliance, and fast conversions of valuable customers. The company was founded in 2015 and is based in Tallinn, Estonia.

Socure Logo
Socure

Socure focuses on digital identity verification and fraud prediction, operating within the technology and financial services sectors. The company offers a platform that uses artificial intelligence (AI) and machine learning (ML) to verify identities in real-time, analyzing various elements such as email, phone, address, and device risk. This service is primarily used by industries such as financial services, government, gaming, healthcare, telecom, and e-commerce. It was founded in 2012 and is based in Incline Village, Nevada.

Trulioo Logo
Trulioo

Trulioo focuses on global online identity verification, operating within the technology and security sectors. The company offers services such as individual and business identity verification, watchlist screening, and identity document verification, all aimed at ensuring know-your-customer (KYC) and know-your-business (KYB) compliance. Trulioo primarily serves sectors such as banking, cryptocurrency, online trading, and wealth management. It was founded in 2011 and is based in Vancouver, British Columbia.

Ondato Logo
Ondato

Ondato is a technology company. It provides a compliance management suite regarding customer procedure. It offers photo and live-video identity verification of natural and legal entities, data monitoring, screening, due diligence, risk scoring, case management, and more. It was founded in 2018 and is based in London, United Kingdom.

Persona Logo
Persona

Persona specializes in identity management solutions. It focuses on the automation of Know Your Customer (KYC) and Know Your Business (KYB) programs and fraud prevention. It offers services that automate identity-related use cases, including the secure collection and verification of personal information, government identity documents (IDs), and user selfies, as well as providing tools for case review and orchestration to streamline identity operations. It serves businesses that need to comply with strict identity verification regulations, such as those in the online education and financial sectors. It was founded in 2018 and is based in San Francisco, California.

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