Norwegian digital identity solutions provider Signicat has announced its acquisition of Dutch technology firm Inverid, expanding its capabilities in mobile identity verification. The deal brings Inverid’s flagship ReadID platform into Signicat’s portfolio, strengthening its position in Europe’s competitive digital identity market.
ReadID, launched in 2014, was the first mobile identity verification solution based on Near Field Communication (NFC). The technology allows smartphones to read data directly from official identity documents, providing a secure and convenient alternative to manual ID checks. Inverid’s solution recently achieved eIDAS Level of Assurance High certification, meeting stringent European standards for electronic identity verification. The platform is used across government agencies, financial institutions, and border control operations.
Signicat stated that acquiring Inverid will enhance its ability to offer comprehensive digital identity solutions to a broader client base. The move also aligns with Signicat’s efforts to expand its global footprint, following its December 2024 partnership with AsiaVerify that marked its entry into the Asia-Pacific market.
Financial Details and Strategic Goals
Although the financial terms of the deal were not disclosed, Inverid’s majority shareholder, Main Capital Partners, and the company’s founders will reinvest a significant portion of the transaction proceeds back into Signicat. This reinvestment signals confidence in the growth prospects of the combined business.
Inverid has demonstrated robust growth in recent years, with revenue reportedly tripling and profitability increasing fourfold since 2022. The company has also expanded its presence in the identity verification ecosystem by joining the FIDO Alliance in April 2025 to help advance NFC-based document authentication standards.
In a statement, Inverid CEO Maarten Wegdam highlighted how the merger would help scale the company’s technology beyond a single-product focus. “There are some limits in growth if you sell this one product. By joining Signicat, we can more easily approach a much wider range of customers and leverage our unique technology better,” Wegdam said.
Shared Vision for Digital Identity Innovation
Main Capital Partners noted that since its investment in Inverid in 2022, the company has expanded its international operations while maintaining a reputation as an innovator in NFC-based identity verification. The firm emphasized its commitment to staying involved in Inverid’s future through its minority stake in Signicat. Instead of repeating his full statement verbatim, Main Capital CEO Charly Zwemstra conveyed optimism about the strategic benefits of the acquisition and the ongoing collaboration between both companies.
Beyond ReadID, Inverid holds certifications such as ISO 27001, ISO 27701, and SOC 2 Type II, underlining its emphasis on security and data protection. The integration of Inverid’s NFC technology is expected to bolster Signicat’s suite of digital identity solutions, offering clients more versatile and secure methods for verifying user identities across diverse industries.
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By Cass Kennedy
