Artificial intelligence is the basis of many digital business models – also at the Hamburg start-up NECT GmbH. The company has focused entirely on video identification via smartphone – a solution that offers a wide range of applications. After all, establishing a person’s identity beyond doubt is an important prerequisite for gaining access to offers or concluding contracts. This article is based on the unique List of the 200 most important venture capital investors Germany.
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Unique video identification technology – banks and insurance companies benefit
With the Munich-based venture capital fund ALSTIN Capital, NECT has now found a strong financing partner to realize further growth. ALSTIN Capital is part of the Maschmeyer Group, which is backed by the well-known Hanoverian entrepreneur and AWD founder Carsten Maschmeyer. The venture capital fund acts as a bank-independent investor. The investment focus is on growth-oriented technology companies in the areas of Fintech, Insurtech, Regtech, Cyber Security and Mobility. Geographically, investments are made in the DACH region and the rest of Europe. The investments range between one and ten million euros. In the case of entry level investments, the commitment is up to three million euros.
The ALSTIN investment at NECT GmbH fits exactly into this scheme. According to official information, it is in the mid-seven-digit range. Further investors are DvH Ventures, the venture capital company of the Holtzbrinck Group, and several business angels operating under the umbrella of Michael Grabner Media (MGM). Both groups have already held shares in NECT. For more than two years, NECT has been tinkering with video identification technology. It is a one hundred percent proprietary development with a unique selling point. In the future, the NECT software is to take over the tasks of employees at banks and insurance companies in establishing identity. It will make work easier and optimise processes, and thanks to the reliable technology, it will also contribute to security.
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