Signicat, a leading digital identity platform operating across Europe, has acquired Inverid, a Dutch specialist in NFC-based identity verification solutions, in a move that deepens its commitment to digital identity innovation.
The acquisition was made from majority shareholder Main Capital and Inverid’s founders, with existing shareholders reinvesting a substantial portion of the proceeds into Signicat.
The acquisition, for an undisclosed amount, strengthens Signicat’s digital identity suite with Inverid’s flagship ReadID solution. ReadID has gained international recognition as the benchmark for NFC-based identity verification. The integration promises immediate technological and commercial synergies, along with a strong cultural alignment between the two firms.
Founded in the Netherlands, Inverid is best known for ReadID, the world’s first mobile identity verification solution using NFC, launched in 2014. The solution is widely adopted across sectors where stringent identity verification is vital, including government, finance, and border control. Its clients include Rabobank, Frontex, and government agencies in the UK and Denmark. ReadID also boasts top-tier certifications, including ISO27001, ISO27701, SOC2 Type II, and eIDAS Level of Assurance High.
Signicat has expanded significantly across Europe, combining organic product development with eight strategic acquisitions to enhance its technology, market presence, and client base. Its platform includes secure mobile authentication, eIDAS-compliant video ID verification, a vast hub of national eIDs, and advanced anti-fraud tools like RiskFlow and Mint.
Inverid, backed by Main Capital over the past three years, has made notable strides in R&D and go-to-market capabilities, including launching an R&D hub in Valencia. This support has enabled the company to win major industry tenders, triple its revenue, and increase profits fourfold.
Asger Hattel, Signicat CEO, said, “By adding Inverid’s unique NFC-based solution to our platform, we can offer our customers the best possible document verification technology and unmatched identity solutions. This transaction demonstrates our commitment to remaining at the forefront of digital identity innovation, constantly striving to offer our customers still more effective tools to fight fraud while improving digitization journeys for their end users.”
Nordic Capital Advisors managing director Rolf Torsøe said, “The acquisition of Inverid is an important step to further strengthen Signicat’s offering to deliver even better digital identity solutions to the market. Building on a successful partnership between the companies and a strong cultural fit, this transaction will unlock immediate synergies. Nordic Capital is enthusiastic about supporting Signicat’s continued growth journey in Europe.”
Inverid co-founder and CEO Maarten Wegdam said, “We share the same culture and European foundations, creating an excellent proposition, also in the context of the coming European Identity Wallet developments. The identity verification market is moving more towards integrated and secure solutions. By combining our identity verification technology with Signicat’s global platform and unique identity and orchestration solutions, we can support that growing market perfectly.”
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