25 February 2018
Visit www.capgemini.com/worldreports

FireID secures EUR5 million funding round

07 September 2010  |  2795 views  |  0 Source: FireID

FireID, a leading provider of world-class security applications for mobile authentication, has raised additional funding of 5 million euros (approximately $6.4 million) from an investor, Jersey-based 4D Innovative Capital International Limited.

The funding will be used to expand worldwide distribution of the mobile password authentication solution into key verticals identified in the international marketplace.

4D Innovative Capital is an early-stage capital investment company that focuses on sourcing and funding promising high-tech opportunities, primarily in Southern Africa and specifically in software, web, media and telecommunications, from the seed funding stage onwards.

With FireID, users generate a one-time password via their mobile phone to securely and conveniently log into online banking, e-commerce websites, cloud-based applications and VPNs. Director of 4D Innovative Capital Erik van Vlaanderen says the need for two-factor authentication to counter the growing prevalence of identity theft worldwide is a rapidly growing market segment in the international security marketplace.

"We believe that FireID, both the company and its product, is positioning itself advantageously to capture a significant share of the global market and provide a healthy return to its shareholders. For these reasons, we feel the company is deserving of continued support to advance its product into the marketplace worldwide," says Van Vlaanderen.

"As the security of online transactions has become of paramount importance, this funding provides validation of the growth opportunities for FireID," said Jenny Dugmore, CEO of FireID. "These new resources will be instrumental in accelerating our rapid growth into new international markets and building upon our leadership position in mobile two-factor authentication solutions."

FireID's mobile solution won Frost & Sullivan's 2009 New Product Innovation Award, recognized for innovation, leveraging of leading-edge technologies, value-added benefits and features, increased customer value and customer acquisition/penetration potential.

Van Vlaanderen described Southern Africa, with its emerging nature, its demographics and the incredible growth in mobile technology among the lower to middle income groups, as an excellent test bed for new ideas and developing technologies, and said opportunities to invest in high-tech projects in Southern Africa are ever increasing.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsVisit https://www.capgemini.comvisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12662 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10829 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9326 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8688 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8629 views comments | 11 tweets | 14 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job