SAFE ID secures 10 million euros in financing

SAFE ID Solutions, a supplier of passport personalisation solutions, has closed a second round of financing amounting to more than 10 million euros. The deal was struck with the company’s existing main shareholders Atlas Ventures and Wellington Partners, as well as the National Innovation Fund of Kazakhstan* (NIF).

According to the company, the funds will primarily be used to strengthen the company’s global presence in the passport personalisation. Over the course of the past two years, SAFE ID says it has installed its technology in more than 25 countries. The second round of financing will give SAFE ID a new boost toward globalization, Karsten Neugebauer, the CEO and founder of SAFE ID Solutions, commented.

A second objective is to dedicate greater focus and resources on the company’s positioning as a security software provider. Identity and process management are issues that go beyond pure government applications and represent a large field of activity for SAFE ID in the future, the company explained.

 

*The National Innovation Fund of Kazakhstan is an entity that targets young and ambitious technology companies with solutions that are made for a global market. The NIF’s main objective is to assure technology and know-how transfer to Kazakhstan and the entire Central Asian region.