Identification services provider backs up ambitious growth strategy
Berlin, 7th September 2021
Today, WebID announced a majority stake by AnaCap Financial Partners. AnaCap is one of the leading private equity investors in technology-enabled financial services. The London-based company will provide significant growth capital and work with CEO and founder Frank S. Jorga and the existing management team to expand WebID's services into new industries globally and further accelerate growth.
Jorga explains: "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. After the company's formative years, 2020 was an exceptional year for WebID. Revenue in 2019 of more than 13 million euros rose to 20 million in 2020 and this year we are heading for 30 million. All this confirms our strategy, which is now supported by AnaCap. Products, such as our invention WebID Video Ident, are of interest to numerous, especially regulated, sectors worldwide due to their high level of security. Our IT platform provides a comprehensive global ecosystem for E-KYC and related services. A first-class portfolio for a strong growth trajectory via new business development and international expansion. AnaCap's experience and success in the fintech space are ideal to further realize our strategy of ambitious growth. Together, we are taking WebID's success story to the next level.“
Until now, WebID had done without an institutional investor and has been strategically and operationally managed by the founders Frank S. Jorga and Sven O. Jorga for some time. This management team will continue to hold the reins, and both will continue to have a significant stake in WebID. Further management executives will be added successively in order to underline the sustainable growth. The goal is to take on a significant international role in the digital identities segment and to provide all existing and new customers with a centralised, globally usable solution for identifications, signatures and databases via the WebID platform GTTP ("Global Trust Technology Platform").
Jorga adds: "We continue to focus on organic growth in the interest of our customers and on leading products, but also on investments in national and international companies in the areas of identification, signing and technology.“
Experienced financial investor with a track record in Germany
Among its numerous engagements, AnaCap is well acquainted with the DACH region and the investment follows the continued strong expansion of its portfolio company MRH Trowe ("MRHT") with nine increased growth acquisitions as part of an accelerated buy-and-build strategy in the large and fragmented German financial services market. In this regard, AnaCap is leveraging the experience gained from its successful buy-and-build strategy at "heidelpay" (now "Unzer") across the region and the subsequent successful exit to KKR.
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 eGov and eHealth, fuelled by actual real use cases and existing favourable legislation. We look forward to supporting management in the next stage of growth for WebID."