IDnow Raising Funds — Shelving Germany’s Largest Fintech Exit For Now
- Jörn Menninger
- Mar 15
- 5 min read
Updated: 1 day ago
This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.
What Is This About?
Identity verification giant IDnow shelved what would have been Germany's largest fintech exit at $1 billion, instead raising €60 million in debt from BlackRock. The decision signals how the 2022 market correction forced even the strongest German fintechs to pivot from exit plans to survival strategies.
This article is part of our coverage of Scaleup Founder Interviews from Germany, Austria, and Switzerland.
This blog post first appeared first on old medium publication (https://medium.
On March 18th we shared the news, that our former guest IDnow, is in the process of looking for Germany’s largest fintech exit at 1bn Euros (1,1 bn US$ at the time).
As of today, the company reported that they arranged 60 m Euros from BlackRock as a debt facility to continue driving the consolidation in the space in Europe.
In our interview, we talked about two of their past acquisitions, one in France and one in Germany.
You can learn more in our article or in our audio and interview from July 2021 below.
via Pixabay
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IDnow Raising Funds — Shelving Germany’s Largest Fintech Exit For Now Startuprad.io brings you independent coverage of the key developments shaping the startup and venture capital landscape across Germany, Austria, and Switzerland.
This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.
On March 18th we shared the news, that our former guest IDnow, is in the process of looking for Germany’s largest fintech exit at 1bn Euros (1,1 bn US$ at the time).
As of today, the company reported that they arranged 60 m Euros from BlackRock as a debt facility to continue driving the consolidation in the space in Europe. A debt facility is an available credit, that IDnow could draw on to grow or when they found an acquisition target. We would be surprised if the CEO Andreas Bodczek would not have already initiatives and acquisition targets in mind.
In our interview, we talked about two of their past acquisitions, one in France and one in Germany. It seems like they have shelved the exit plans for now — not surprising given the current market environment — and continue to consolidate the market. It appears to be a pretty good idea to get a war chest right now and take advantage of the current market environment by acquiring companies.
You can learn more in our article or in our audio and interview from July 2021 below.
What Happened with IDnow's Exit?
IDnow, the digital identity verification fintech previously featured on Startuprad.io in July 2021, shelved plans for what would have been Germany's largest fintech exit. Instead, the company secured a €60 million debt facility from BlackRock to fund continued operations and growth. IDnow had previously made acquisitions in France and Germany.
Introduction
This episode updates listeners on IDnow, a digital identity verification fintech that was previously on Startuprad.io in July 2021. After news broke on March 18th that IDnow was pursuing what could have been Germany's largest fintech exit, the company ultimately shelved those plans. Instead, IDnow arranged a €60 million debt facility from BlackRock to continue its growth trajectory. The original interview covered IDnow's acquisition strategy, including deals in France and Germany.
IDnow's decision to shelve Germany's largest potential fintech exit in favor of a €60 million BlackRock debt facility reflects the challenging M&A environment of 2022. The identity verification startup, which had been building through acquisitions in France and Germany, opted for continued independence. The BlackRock debt facility provides capital without dilution, allowing IDnow to continue scaling its digital identity verification platform. Startuprad.io had previously interviewed the company in July 2021.
IDnow shelved plans for what would have been Germany's largest fintech exit, choosing to continue independently.
The company secured a €60 million debt facility from BlackRock as an alternative to the exit.
IDnow had made acquisitions in both France and Germany as part of its European expansion strategy.
The decision reflects broader market conditions that made fintech exits less attractive in 2022.
Entities Referenced in This Episode
Startups & Companies
IDnow — Digital identity verification fintech, €60M BlackRock debt facility
BlackRock — Provided €60M debt facility to IDnow
People
Jörn "Joe" Menninger — Startuprad.io host
Topics
Digital identity verification, KYC, fintech exit, debt facility, M&A, German fintech
Relationship Map
IDnow → shelved → Germany's largest potential fintech exit
BlackRock → provided → €60M debt facility to IDnow
IDnow → acquired companies in → France and Germany
Startuprad.io → previously interviewed → IDnow (July 2021)
Quote Highlights
On the shelved exit: Identity verification giant IDnow shelved what would have been Germany's largest fintech exit at $1 billion.
On alternative funding: Instead raised 60 million Euros in debt from the European Investment Bank.
On market conditions: The decision reflects worsening market conditions making IPOs and large exits difficult for European fintechs.
On IDnow's business: Identity verification company serving financial institutions and regulated industries.
Related Episodes on Startuprad.io
Meet INZMO — Europe's Fastest Growing Insurtech — Another European fintech scaling through innovation
Fintech Review 2022 — Annual DACH fintech review covering the market conditions
Browse all Startuprad.io episodes — Topic hub: Fintech exits and M&A
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What is IDnow?
IDnow is a digital identity verification fintech that provides KYC (Know Your Customer) solutions. The company has grown through acquisitions in France and Germany and was at one point pursuing what would have been Germany's largest fintech exit.
Why did IDnow shelve its exit?
IDnow shelved plans for Germany's largest fintech exit amid challenging market conditions in 2022. Instead, the company arranged a €60 million debt facility from BlackRock to continue funding its operations and growth independently.
Who provided funding to IDnow?
BlackRock provided a €60 million debt facility to IDnow as an alternative to the shelved exit. This allowed the company to access capital without equity dilution while maintaining independence.
About the Host
Joern "Joe" Menninger is the host of the Startuprad.io podcast and covers founders, investors, and policy developments across the DACH startup ecosystem. Through more than 1,300 interviews and nearly a decade of reporting, he documents the evolution of the European startup landscape. Follow Joern on LinkedIn.
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Companies building in fintech, identity verification, and regulatory technology use Startuprad.io to reach founders, operators, and decision-makers across the DACH ecosystem. If that fits your goals, explore partnerships here: Partner with Startuprad.io
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