Nordic Capital has acquired digital identity organisation, Signicat.
The acquisition will strengthen Nordic Capital’s position in the northern European technology and payments sector
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Nordic Capital will, along with Viking Venture, accelerate Signicat’s international expansion. It will also strengthen the organisation’s position and unique product offering.
Founded in 2007, Signicat focuses on creating innovative digital identity solutions. These solutions aim to reduce fraud risks while offering an intuitive user experience.
Furthermore, Signicat solutions enables companies to offer secure and user-friendly online authentication, identification verification and electronic signature solutions.
Currently, Signicat works with providers such as DNB, Radobank and also Santander.
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By GlobalDataCEO and co-founder of Signicat, Gunnar Nordseth, commented: “As one of the most prominent and experienced investors in the FinTech sector with a long and proven track record of growing businesses, Nordic Capital is the perfect partner to support Signicat’s accelerated international expansion strategy.
“We live in a digital society where interactions between consumers and institutions are predominantly online and mobile-first. Trust is at a premium, and digital identity is the solution. Over the last 12 years Signicat has built a digital identity platform with all the tools any institution requires to establish mutual trust with its customers. With the ongoing global digital transformation, we are ideally placed to address this burgeoning market opportunity.”
Nordic Capital acquires Signicat to drive digital identity solutions
This acquisition will be Nordic Capital’s ninth investment through its latest fund.
So far, Nordic Capital has made 14 technology and payment platform investments. These include Bambora, Point and Trustly.
The parties have agreed to not disclose any financial details.
Partner at the Advisor to the Nordic Capital Funds, Fredrik Näslund, commented: “Born from the most advanced digital identity market in the world, Signicat is a recognised leader in one of the most exciting and fast-growing technology areas globally acting as a key enabler for the digital economy.
“The company has shown consistent high growth since inception. This is driven both by a rapidly increasing number of customers and strong volume growth among existing customers. Signicat’s highly experienced management team is well positioned to capitalise on enormous growth opportunities across geographies, customer verticals and products, as the digital transformation of the economy continues. Drawing on Nordic Capital’s significant experience across enterprise software, payment technology, financial services, and from scaling businesses globally, we are enthusiastic about the opportunity to help Signicat to further strengthen its market position and customer offering.”
