IDnow, Growth Intelligence and 51-0 Get Tech Funding

Great news for a digital identity provider, an account-based marketing platform and a climate tech startup.

London and beyond are looking lively with IDnow, Growth Intelligence and 51-0 bagging tech funding.

Identity proofing and digital identity provider IDnow has arranged a new debt facility of €60 million (£50 million) from funds and accounts managed by BlackRock.

Account-based marketing (ABM) platform Growth Intelligence has secured £1.5 million of funding from Shard Credit Partners through its UK technology-focused venture debt fund.

Climate tech startup 51 to Carbon Zero (aka 51-0) has got undisclosed funding in a round led by Fuel Ventures.

IDnow Eyes Potential Acquisitions

IDnow was founded in 2014 in Munich, and it has a presence in the UK and France. Last year, the firm revealed its ambitions to recruit more people in the UK. The company launched in the UK in 2019 and has offices in Manchester and London.

The German tech firm says the debt facility will be used for the introduction of new identity proofing solutions and potential acquisitions.

IDnow works with over 900 enterprise customers across various sectors. Clients include Western Union, UBS, Sixt and Munich Re, N26, Solaris (formerly Solarisbank), wefox and Tier Mobility.

Based on data from Crunchbase, the company – prior to this debt facility – had raised a total of $58.2 million (£43.4 million) in funding over seven rounds.

Growth Intelligence’s Unorthodox Style

London-based Growth Intelligence targets B2B marketers, and its clients include American Express, PayPal and Vodafone.

The company says it combines AI, “unorthodox signals” and CRM data to offer intelligence to create a single view of accounts. Marketers can then run multi-channel campaigns.

Growth Intelligence stays true to its name and has been experiencing growth over recent years and generated a 100% year-on-year revenue increase for 2021-2022. The funds raised will be used to support sales team expansion and product development.

The investment is in line with Shard Credit Partners’ strategy to target borrowers with annual recurring revenues of at least £2 million, operating in the B2B SaaS and fintech sectors, and “benefiting from long term customer contracts”.

Not All the Numbers from 51-0

51-0 is headquartered in London and provides a platform-based solution to enterprise clients for carbon administration. The startup explains that it consolidates all carbon data into one place, in real time, automatically and tagged for accountability. It wants to engage stakeholders (e.g., employees, investors, suppliers) through custom apps and a recognised kitemark.

While there were no numbers in terms of the funding amount, Fuel Ventures did have other figures to share. It reckons there are over 12,000 businesses in the UK and over 60,000 businesses in the EU who are required by regulation to report on their carbon emissions.

It notes that every year humanity emits 51 billion tonnes of greenhouse gas. As befits its name, 51-0 is on a quest to get that down to zero.

The climate tech space is a very lively one as other firms have ideas and great expectations in the net-zero race.

In April, San Francisco-based Watershed announced its dual headquarters in London. Watershed, which counts Al Gore as a personal investor, is a software platform that wants to help companies get to net-zero carbon.

Prior to that, and in an eWeek UK scoop, London-based Expect powered up to offer a decarbonisation management platform for large enterprises and heavy industries.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.

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