September 7, 2021
GCA Altium advises AnaCap Financial Partners on its majority investment in WebID
GCA Altium acted as exclusive financial advisor to AnaCap Financial Partners, a leading private equity investor in tech-enabled financial services, on its majority investment in WebID, a leading German digital identity Verification-as-a-Service Provider.
WebID is a leading digital identity verification company and a pioneer of Bafin (Germany’s Federal Financial Supervisory Authority) approved anti-money laundering compliant video identification solutions. Their solution portfolio provides a range of digital identification solutions for Know Your Customer (“KYC”) purposes, such as identification via video call, online banking, artificial intelligence, as well as qualified electronic signature (“QES”) solutions for e-signing. WebID is an enabler of the increasingly important offline-to-online channel shift being witnessed globally and holds several patents across Europe, the US and China. The company was founded in 2012, is headquartered in Berlin, and has ~300 customers including blue-chip rosters of large corporates and financial institutions such as Deutsche Bank, BNP Paribas and Santander. WebID identifies over 15,000 users per day using Video Ident alone, and has collected and stored over 8 million verified identities.
AnaCap Financial Partners is a leading specialist mid-market private equity investor in technology enabled financial services. Since 2005 the firm has raised EUR 5.2 billion in gross AUM and completed over 100 primary investments across 16 European jurisdictions and India. AnaCap will provide significant growth capital and partner with the founders and existing management team to extend WebID’s product offering to other industries outside of the core financial services and telecoms space where it has a market leading position, such as e-government, e-health, e-commerce and e-mobility.
Tassilo Arnhold, Partner at AnaCap, commented: “WebID is a very impressive company and one we have been tracking for some time, given its footing in the high growth digital identification market in Germany. The banking landscape there is witnessing sustained growth from increasing channel shifts of online vs. offline and the penetration of KYC in online processes that we believe will ultimately lead to a fully online customer journey. WebID is extremely well placed to enable, facilitate and capitalise on this trend, particularly for large banks who are keen adopters for security, operational efficiency and cost management purposes. There is also significant further upside potential through the possible deployment of digital identification solutions in additional verticals going forward via the likes of e-government and e-health, fuelled by actual real-use cases and existing favourable legislation. We look forward to supporting management in the next stage of growth for WebID.”
Frank S. Jorga, Founder of WebID, added: “We have had numerous inquiries over the past few years and have been pleased with the interest we have received from prestigious investment companies. For us it was important to have a partner matching the founding spirit of WebID. Now with AnaCap, we have found the right investor to consistently expand our leading position in the market and as an industry pioneer and to significantly accelerate our growth, which has so far been organic. […] AnaCap’s experience and success in the fintech space are ideal to further realise our strategy of ambitious growth. Together, we are taking WebID’s success story to the next level.”
Martin Rezaie, Director at GCA Altium, said: “WebID is a pioneer in the high-growth digital identification solutions market and we are convinced that AnaCap is the right partner to support WebID in unlocking its tremendous growth potential in the coming years.”