FinLab investment AUTHADA secures well-known FinTech investor main incubator and finalizes seven-digit financing round
- AUTHADA GmbH, a portfolio company of FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR), is a technology company based in Darmstadt that offers BSI certified products for secure and user-friendly identity verification
- FinLab AG, the first institutional investor of AUTHADA and main incubator, the research and development unit of the Commerzbank Group, are jointly investing a seven-figure sum in the company
- AUTHADA's solutions can be used flexibly by financial institutions, telecommunications providers, insurers and ecommerce providers
Darmstadt/Frankfurt am Main, 21. August 2018 - As more and more digital offerings and products become available, secure online identification techniques are playing an increasingly important role. The Darmstadt-based technology company AUTHADA provides innovative solutions in this context. The technology underlying the software uses the features of the electronic identity card, as the data for the electronic proof of identity (eID) is stored in the chip. AUTHADA turns the smartphone into a mobile ID card reader with Near Field Communication (NFC), enabling fast, flexible and above all secure online identification.
In total, AUTHADA offers four product solutions: AUTHADA ident for remote identification of new and existing customers, AUTHADA onsite for point of sale (POS) identification, AUTHADA sign for mobile and fully automated contract conclusions and AUTHADA verify for two-factor authentication. The entire AUTHADA eID core, and therefore all solutions, are certified by the Federal Office for Information Security (BSI). In addition, any identification process with an AUTHADA solution complies with the following laws and regulators: Money Laundering Act (GwG), Telecommunications Act (TKG) and the Payment Services Supervision Act (ZAG). AUTHADA sets itself apart from its competitors with its speed, consistent accessibility, user friendliness and increased efficiency. The innovative solution from AUTHADA is already being successfully used by ayondo and paysafecard, and soon it will "go live" with a direct bank and then one of the major EU financial institutions in retail banking.
The existing investor FinLab and the new investor main incubator, a wholly owned subsidiary of Commerzbank, are also convinced of the added value with the solutions. Ulrich Coenen, Divisional Director for Corporate Clients of Commerzbank and member of the investment committee of main incubator: "As a digital technology company, providing innovative solutions tailored to our customers' needs is one of our main concerns. The topic of data security for our customers always plays a major role. With the investment from main incubator in the startup AUTHADA, we are securing our participation in one of the most disruptive solutions for online identification. With AUTHADA, we can optimize the on-boarding process for our customers and therefore, create better digital experiences."
Julian Bürklein, Investment Manager at main incubator, adds: "We are pleased to welcome AUTHADA, the 15th investment in our portfolio. The AUTHADA solution ties in with the customer relationship at a very early stage, making it as digital and user-friendly as possible right from the start."
Andreas Plies, CEO and one of the founders of AUTHADA, clarifies: "We are particularly pleased to have found an investor in the research and development unit of the Commerzbank Group who, in addition to an interest in the economic development of AUTHADA, has just as much interest in the innovative content of our solutions." Jörg Jessen, also CEO and founder from AUTHADA, adds in conclusion: "Investors such as FinLab and main incubator are particularly valuable to AUTHADA, as they will greatly support us with the strategic positioning in our primary markets through their experience and market knowledge."
About main incubator:
Main Incubator GmbH, in short main incubator, is a wholly owned subsidiary company of Commerzbank. The company is based in Frankfurt am Main. As a Research & Development Unit of the Commerzbank Group, main incubator deals with topics of the future and emerging technologies such as Blockchain, Big Data, Machine Learning, Artificial Intelligence, Biometrics, Robotics, Virtual Reality, Cloud, Open API, Wearables, IoT and Quantum Computing Technology. Through strategic investments in tech-driven startups, main incubator provides support for innovations and makes them accessible to Commerzbank and its customers. The main incubator designs active innovations by developing its own prototypes. With the promotion of the FinTech ecosystem and the monthly series of events "Between the Towers", main incubator is pursuing the goal of discovering innovations at an early stage.
Tel: +49 69 719 13 87 47
About AUTHADA GmbH:
AUTHADA GmbH is a cybersecurity start-up founded in May 2015 as a spinoff of the Darmstadt University of Applied Sciences. The eID-Core solutions use the electronic identity of personal ID cards via a mobile or stationary device in order to verify existing or target customers within seconds. Since the product is based on national and international safety standards and legal requirements it is certified by the German Federal Office for Information Security (BSI) and can therefore be considered safe to use and reliable.
Phone: +49 6151 2752 500
About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A) is one of the first and largest company builders and investors focused on the Financial Services Technologies ("FinTech") sector in Europe. FinLab focuses on developing German FinTech start-ups and providing venture capital for their financial needs, whereas in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.
Phone: +49 69 719 12 80 0
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