Release date: 11 January 2021
Promoter – Financial Intermediary
IDNOW GMBHLocation
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)
- Services - Information and communication
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).