King & Wood Mallesons (KWM) has advised the listed company FinLab AG (FinLab) on a seven-figure growth financing package provided to the Darmstadt-based technology company AUTHADA GmbH (AUTHADA).

AUTHADA is a spin-off company of the Darmstadt University of Applied Science that aims to put an end to the conventional and cumbersome approaches to identity verification using PostIdent and video legitimation. By reading the electronic identity (eID) of an ID card via a smartphone’s NFC interface, AUTHADA’s technology is designed to provide mobile and safe identification of existing and target customers in real time with its innovative solution.

FinLab’s investment will help accelerate AUTHADA’s product development and sales. FinLab director Stefan Schütze noted: “We’re delighted to introduce the next level of user authentication with AUTHADA. What’s new and special about this solution is its new procedure that already meets all legal and regulatory requirements of the second European Payment Services Directive (PSD2), which have to be implemented across Europe. This puts us a major step ahead in the market.”

Stock market listed company FinLab AG is one of the first and largest company builders and investors focused on the Financial Services Technologies (“FinTech”) sector. 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.

KWM advised FinLab on this venture capital investment.
Advisors FinLab AG:
King & Wood Mallesons, Germany

Corporate/M&A:

* Christoph Brenner (partner), Simon Vogel (counsel, both Munich)

Banking & Finance/Regulatory

*     Hilger von Livonius (partner, Munich)