BGF Backs Romania’s TMT ID with €34M To Fight Rising Fraud

This investment will accelerate the company’s global expansion and strengthen its mission to help organisations fight cybercrime, reduce fraud and enhance digital trust.

With BGF’s backing, TMT ID will continue expanding its product and service portfolio, deepen its presence in international markets especially the United States and scale its customer base, which already includes 260+ organisations ranging from small enterprises to major global tech companies.

John Wilkinson, CEO of TMT ID, says: “We are delighted to announce BGF ’s investment in TMT ID. At a time when fraud and digital threats are escalating worldwide, the ability to verify users, detect risk, and protect customer s has never been more critical. TMT ID’s mobile identity and number intelligence solutions deliver real – time insights that allow enterprises to build trust, prevent fraud and optimise decision – making.”

The 2025 funding landscape for European identity-verification and fraud-prevention startups reflects steady momentum, though primarily at the early stage. Recent examples include Ver.iD in Amsterdam raising €2 million to scale its SaaS verification platform, Italy’s Trustfull securing €6 million to strengthen its fraud-prevention technology, and London-based FALKIN obtaining €1.7 million to advance its proactive scam-detection tools.

Read Also - HoloSolis Raises €220M To Build One Of Europe’s Largest Solar Gigafactories In France

In comparison, the €34 million investment raised by Romania’s TMT ID stands out as a significant exception positioning the company as one of the most well-funded players in this niche across Europe.

This trend aligns with EU-Startups’ broader reporting, which highlights rising investment in tools designed to counter increasingly sophisticated AI-driven threats, including deepfake-enabled fraud. As noted in our October analysis, financial losses tied to such attacks have already exceeded €1.3 billion, underscoring the urgency and importance of advanced digital-identity security solutions across the continent.

“BGF’s investment marks a significant milestone in our continued growth trajectory. It provides the strategic partnership needed to accelerate innovation, strengthen our global reach, and ​expand the depth and breadth of our services. We look forward to working closely with BGF to scale our technology and continue setting new benchmarks for trust and customer confidence in the digital economy,” adds Wilkinson.

Founded in 2016 by John Wilkinson and Fergal Parkinson TMT ID was built on the belief that the mobile phone would become the most powerful digital key for identity, security and trust. Strengthening this vision, the company acquired Phronesis Technologies in 2023, further expanding its leadership in mobile identity solutions.

Today, TMT ID operates a vast data network that covers three billion phone numbers across 200+ countries and territories, performing more than 100 million checks per day through direct integrations with global mobile network operators. Its identity-verification and fraud-prevention solutions are used by over 250 organisations, including major banks, insurers, and e-commerce platforms, helping them streamline customer onboarding, reduce fraud, and enhance user experience.

Driven by rising global demand, TMT ID has achieved 30% overall growth so far this year compared with 2024. Revenue from its identity and fraud suite including KYC and age-verification tools has surged by 80%.

This new investment marks TMT ID’s first institutional partnership, following years of being primarily self-funded, and positions the company for accelerated global expansion and continued innovation in digital identity security.

Matthew Connor, Investor at BGF, shares: “TMT ID combines smart technology with a proven commercial model in one of the fastest-growing areas of the digital economy. This investment reflects our confidence in the team’s vision and capability to expand internationally, particularly into the US market, and we are proud to back a business that is redefining digital trust.”

Global fraud losses hit €863 billion ($1 trillion) in 2024 highlighting the growing risks in digital transactions. With the age-verification market expected to nearly double from €3.5 billion ($4 billion) to €6.9 billion ($8 billion) by 2029, TMT ID’s secure mobile-network data solution aligns perfectly with new UK Online Safety Act rules introduced in July 2025.

BGF’s investment in TMT ID adds to its strong 2025 deal activity, including PMC, Cronofy, and Paperchase Accountancy. This comes as BGF commits €1.1 billion (£1 billion) to high-growth businesses in London and the South East, following successful exits from BB7 and OrganOx.

About TMT ID

TMT ID, founded in 2016, delivers frictionless age and identity verification through advanced mobile-network data. Its global network covers three billion phone numbers across 200+ countries and performs over 100 million checks daily. Trusted by 250+ banks, insurers and e-commerce firms, TMT ID helps reduce fraud and streamline customer onboarding.