IDnow talks about their acquisition of Ariadnext

Munich Startup is the official startup portal for Munich and the surrounding region. It was developed by the City of Munich, the Chamber of Commerce and Industry for Munich and Upper Bavaria and the four entrepreneurship centers of the Munich universities within the framework of the Entrepreneurship Strategy Munich. You can learn more here: https://en.munich-startup.de/

This time we have a rarity on our channel because Andreas Bodczek (https://www.linkedin.com/in/andreasbodczek/) is not a founder, but an early investor in the company, which became later the CEO of IDnow. Andreas has been an early business angel, investing in IDnow. So he has been involved in the company for quite some time before he took the job as external CEO.

Andreas has been with Bertelsmann, where he worked with dial-up internet connections, building one of the broadest platforms for broadband and Voice-over-IP services in Germany. He later moved to become the CEO of Telefonica Germany (https://www.telefonica.de/) and co-founded Fyber (https://www.fyber.com/ ), which they build up in Germany, the US, and several more companies. They sold the company in 2014.

Andreas is also a board partner with Point Nine Capital (https://www.pointnine.com/), a Berlin-based VC fund focused on platforms and SaaS.

IDnow (https://www.idnow.io/products/idnow-videoident/) is an online identification service provider, that helps banks, insurance companies, and other companies to verify the identity of their clients remotely. This has not always been the case in Germany, but IDnow was one of the early companies providing this service.

Today IDnow has amongst their clients some well-known names like N26, Solaris Bank or Sixt, Western Union, Tier Mobility, and WeFox.

The startup grew early with a strong focus on financial services companies, starting when the German regulator moved to allow so-called “video idents.”

Now IDnow extends its services across industries, products, and countries. The acquisition of France-based Ariadnext (https://www.ariadnext.com/) fits in the category of extending in countries, to expand their footprint in France.

From our conversation, we took that IDnow has SPAC offers at hand, still evaluating their options.

Find all links and show notes here: https://www.startuprad.io/blog/exclusive-idnow-talks-about-their-acquisition-of-ariadnext/

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