Verimi to get investor money

Many had already written off the Berlin start-up Verimi. Now, four shareholders are apparently injecting an eight-figure sum. The names of the backers could hardly be more prominent.

Everything still seems a bit mysterious: According to information from Finanz Szene and Finance Forward,

fintech Verimi is to receive an eight-figure sum from four of its twelve shareholders. These are said to be Deutsche Bank, Allianz, Samsung and VW Financial Services. In addition, there is still a nameless investor, with which due to its prominent name high hopes are connected, learned the two media from the circle of the involved parties.

Verimi is launching its "single sign-on" service in 2018, which is similar to what Google and Apple have, using one ID to handle all operations such as payment, signing , identification and logging in. Investors such as Deutsche Bank and Allianz already use Verimi's service for certain parts of their offering such as logging in to online banking.

Verimi failed in the past mainly due to a lack of reach. Users are automatically confronted with Apple's or Google's service every day, Verimi has to fight for visibility among potential customers first. However, the start-up reacted to this and in recent months has shifted its focus from mass identities to so-called "high-value identities". These are especially needed in highly regulated sectors like the financial industry.