Anacap takes over WebID

British investor Anacap acquires a majority stake in Berlin-based identity service WebID and invests in the start-up's further growth. The management team around the founders remains unchanged.

As the company WebID announced, the London-based venture capital firm Anacap has acquired a majority stake in the Berlin-based identity service. It is not known exactly how high the share is or what sum flowed for the takeover. The announcement says Anacap will "provide significant growth capital." The management team around Frank and Sven Jorga will remain in place, but will be expanded in the future.

Anacap is not the first investor to show interest in WebID, but the first to fit: "With AnaCap, we have now found the right investor," says Frank Jorge, explaining his plans for the future of his start-up: "We continue to focus on organic growth in the interests of our customers and on leading products, but also on investments in national and international companies in the areas of identification, signing and technology." Until Anacap's investment, WebID financed itself from cash flow except for small loans.

WebID has been in the digital identity business since 2012, and as of August 2021, eight million people worldwide had entrusted their identities to the company. Customers include Deutsche Bank, Vodafone and Trade Republic. Webid describes its offering as "fully automated money laundering law-compliant identification with online banking". Last year, sales were €20 million, down from €13 million in 2019. And: "This year we are heading for 30 million", says Frank Jorga.