FAQ

Inverid is the provider of ReadID, a service which allows you to check the authenticity of an identity document by reading the NFC chip with a mobile phone. They provide high-quality SaaS solutions that help companies securely establish customers' identities remotely to combat fraud. With its ReadID technology, Inverid's sectors include financial services, government, border control, trust service providers, and identity wallets. 

 Inverid was the first to offer NFC-based identity verification on smartphones in 2014 and the first to deliver on iOS in 2019. Inverid has offices in Valencia, London, and is headquartered in Enschede, the Netherlands. Its customers are located across Europe, in Canada, and in Australia and New Zealand. Main Capital became a majority shareholder of Inverid in 2022.

Inverid’s main product is ReadID, an NFC-based solution to verify the identity of a person with the highest level of assurance.

Signicat is a pioneering, pan-European digital identity company with an unrivalled track record in the world’s most advanced digital identity markets. Its Digital Identity Platform incorporates the most extensive suite of identity proofing and authentication systems in the world, all accessible through a single integration point.

The platform supports the full identity journey, from recognition and on-boarding, through login and consent, to making business agreements which stand the test of time. Signicat was founded in 2006 and acquired by leading European private equity investor Nordic Capital in 2019. It is headquartered in Trondheim, Norway.  

Signicat provides a full suite of digital identity solutions designed to make businesses secure, efficient, and regulatory-compliant in any country:  

• Identity Proofing: Signicat streamlines the onboarding process by verifying the identities of new users or businesses. Its eID Hub incorporates over 36 electronic identities or incorporate ID document and biometric verification tools like VideoID. With integrations to more than 240 data sources, customers can perform checks such as address, credit, and PEP/sanction verifications to catch fraudsters early and meet AML regulations. 

• Authentication: Signicat’s secure and seamless login options ensure returning customers enjoy frictionless access to their portals, apps, or websites. Whether through trusted electronic IDs (e.g., Denmark’s MitID, Norway’s BankID) or mobile biometric solutions (like MobileID), Signicat authentication services ensure high security, compliance, and exceptional user experience. 

• Electronic Signing: Signicat makes electronic signatures not only easy but tamper-proof and legally binding. Whether customers are integrating signing capabilities via API or using our standalone portal or app, signatures comply with eIDAS regulations, offering options like Qualified, Advanced, or Simple signatures, depending on the level of assurance required. 

• Trust Orchestration: Simplify and automate risk, onboarding, and compliance processes with Trust Orchestration. Signicat’s no-code toolset, Signicat Mint, allows customers to visualise and customise workflows without any coding knowledge. RiskFlow empowers businesses with a centralised hub for managing fraud, KYC/KYB, and AML workflows, seamlessly integrating third-party data and automating compliance effortlessly. 

Signicat acquires Inverid to strengthen its position as a leader in the digital identity market. Inverid’s world-class NFC-based document verification technology (ReadID) completes Signicats current “Identity Proofing” product family. This move also helps Signicat expand in other regions as well as cross-sell ReadID to new verticals like insurance and mobility where fraud is on the rise. Closing is expected over summer.

There are three core reasons behind this acquisition:  

1. Product: The vision is in developing the most comprehensive identity ecosystem in Europe to provide the market with a single platform to solve their identity (onboarding/authentication), electronic signing, fraud prevention and AML requirements, yet with a strong global capability. There is a very strong belief in co-developing value-added offerings.  

2. People: The people who work on their products are absolute experts in their field and provide Signicat with a major boost.

3. Complementary markets, verticals and market growth opportunities. Inverid and Signicat have customers that can benefit from each other’s solutions.  

We are not disclosing the financial terms of this transaction. 

More than 70 employees in 3 offices: Enschede, London and Valencia.

Inverid’s Management team will continue to run the product development strategy and form part of the wider senior management team in Signicat. 

No. Inverid will merge into Signicat brand shortly. ReadID will remain the product name of the NFC-base solution.

Signicat is on a growth journey with the aim of being the leading digital identity solution provider in Europe and beyond. To that end, Signicat is looking to add the right companies and solutions to their overall offering. Signicat do not disclose any M&A activity until it is signed and completed.

There will be no change for now, it remains a very high priority to continue to serve the Inverid accounts at the same high level as previously. Over time the Inverid customers will experience a richer/broader technical support, as they start requesting some of the other services on the Signicat platform outside of the NFC arena and across the full digital identity lifecycle.

Inverid and Signicat representatives will reach out to all partners to discuss the change as well as any questions that may arise. Our aim is to preserve all agreements and active customer processes and to work in good faith with our partners towards this aim.