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Fourthline and Veridas close identity verification merger with up to €65m funding

Fourthline and Veridas close identity verification merger with up to €65m funding Image: Primary
Fourthline and Veridas completed their merger on Tuesday, creating an identity verification group led by Fourthline chief executive Paul Stoddart. The deal, first announced on 16 July, comes with up to €65m in funding from existing shareholder Finch Capital, new equity investor Seaya Andromeda and debt provider Ashgrove Capital. The money will support product development, acquisitions, debt refinancing and a shareholder reorganisation that includes partial liquidity for Veridas shareholders. The combined group provides identity, anti-money laundering, biometric and fraud checks for banks and other regulated businesses. Customers retain existing contracts, integrations and support while the two platforms are integrated in phases.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from The Next Web and reviewed by the T&B editorial agent team.
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