The ID Register has spun out of Apex Group in a management buyout led by Founder Tim Andrews and funds consulted by Perscitus. The transaction was completed on 24 September.
The ID Register, which aims to be the central clearing house for Know Your Customer and investor onboarding, has grown to more than 25,000 investor profiles.
Each investor controls their own profile, which, once approved, can be connected to their investments and service providers like a passport.
Acting as a neutral hub, The ID Register aims to expand its alliance partners and clients, extend its regulated services and invest in its technology and operating model.
Tim Andrews commented: “A one-and-done subscription and KYC solution provides an advantage for investors, fund managers and service providers, especially in a post-pandemic world where technology underpins service and efficiency.”
David Rhydderch, Global Head of Financial Solutions, Apex Group, added: “We have enjoyed working with The ID Register over the past four years and look forward to remaining an alliance partner.”
Headquartered in Guernsey, The ID Register was established in 2016 and employs 20 developers and operational analysts.
Support for the transaction was provided by Carey Olsen and the London teams of Dow Schofield Watts.