Onegini receives funding of five million euros for international expansion

Author: Ronald Kasteel

Last updated: September 19, 2019

Woerden, 19 September, 2019 – Fintech scale-up Onegini has received a capital injection of five million euros from venture capitalist and lead investor Walvis and the existing investors The Hatch Firm and InnovationQuarter. The Onegini platform offers enterprise solutions for secure omnichannel communication via digital channels such as web, mobile, chat and email. With over 45 million users, Onegini is the market leader in the Dutch financial industry with its Customer Identity and Access Management (CIAM) software technologies. The investment will be used for further technological development of the product and the international expansion in Belgium and Germany.
 

Digital transition

Onegini expects to double its revenue thanks to the capital injection. Ronald Kasteel, CEO at Onegini: “We see that insurers and pension funds in particular are working on a full digital transition and are investing heavily in this area. In order to be successful, one has to start with reliable digital registration and login for consumers, employers and advisors. This is becoming more complex for organizations because of increasing regulation and legislation, digital identity fraud, compliance and cybersecurity. The software investment will be focused on developing more analytical capabilities, gaining insight in digital identity fraud and simplifying the digital onboarding of customers.”

International expansion

Not only Dutch companies such as AEGON, CZ, Univé, Van Lanschot and VGZ are already using the Onegini platform. Companies such as Baloise, Bank of the West, CFG Bank and RBL Bank are international customers. With the recent opening of the new office in Munich, Onegini will service the German market, in addition to the Dutch and Belgian markets. To support growth, Aad Verveld – a former CFO of among others Bynder – joins the team as CFO. Hans van der Noordaa, former CEO of Delta Lloyd, joined as chairman of the supervisory board.

Opportunities for growth

Venture capitalist Walvis, founded by the J.A. Fentener van Vlissingen family, helps Dutch internet tech firms to grow. Vincent Gravesteyn, Managing Director at Walvis: “Onegini has loyal customers, a state-of-the-art software platform and excellent growth opportunities, looking at the digitization of the European financial industry. Walvis is looking forward to helping Onegini realize this growth, in collaboration with the management team and the fellow investors.”

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About Onegini

Onegini was founded in 2011 and today supports over two hundred customer labels with over 45 million users, spread over multiple countries. The customer base includes organizations such as AEGON, Coolblue, CZ, Menzis, NS, Van Lanschot and VGZ. With the Onegini-platform, the company offers an omni channel Customer Identity and Access Management solution (CIAM) for the banking, insurance and pension industry. With Onegini, organizations quickly and securely create mobile apps and digital portals for consumers, employers and advisors. They do not have to worry about registration, login and management of the digital identity. For more information, go to www.onegini.com.

About Walvis

The J.A. Fentener van Vlissingen family founded Walvis in 2012. Walvis is a fast-growing venture capitalist, that invests in Dutch internet technology scale-ups with international ambitions. With a clear focus on Commerce, Enterprise and FinTech, Walvis helps Dutch internet companies to grow into future world players. More information can be found on www.walvis.com.

About The Hatch Firm and InnovationQuarter

The Hatch Firm from Amsterdam is a hands-on Dutch investment fund which consists of entrepreneurs who not only invest capital, but also their network and knowledge for the benefit of the participations.

InnovationQuarter is South-Holland’s regional development organization. InnovationQuarter invests in innovative companies active in the province with growth ambitions, assists international businesses with establishing themselves in the province and organizes collaboration between businesses, knowledge centres and the government. As a lifecycle investor, InnovationQuarter provides capital to companies in different stages of growth. More information is available on www.thehatchfirm.com and www.innovationquarter.nl.

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