Main Capital Partners (Main) has acquired a majority stake in InnoValor, the creator of ReadID, a global, mobile identity verification software provider using Near Field Communication technology (NFC).
ReadID contributes to the improvement of safety within transactions and the reduction of fraud worldwide, using innovative verification technology which reads NFC-chips present in identity documents. It also allows ID cards and passports to be easily verified using a smartphone, for example during the onboarding process of new banking customers or at border control points.
InnoValor represents the second platform investment from the Main Capital VII fund, which closed in October 2021 with a hard cap of EUR1 billion. This flagship fund targets majority investments in established software companies with an enterprise value ranging from EUR25 million up to EUR250 million. Investments can be both replacement capital as well as growth capital for add-on strategies and growth in general.
