Ploiești-based TMT ID, a mobile data and identity intelligence company, has secured a €34 million (£30 million) investment from growth capital investor BGF, to support its expansion and help global firms combat cybercrime, prevent fraud and build digital trust.
The support from BGF will allow TMT ID to continue adding to the products and services it offers, pursue international expansion focused on the US, and build on its existing customer base of more than 260 organisations, ranging from small businesses to global technology leaders.
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 funding landscape for European identity-verification and fraud-prevention startups in 2025 shows steady but mostly early-stage activity, with companies such as Ver.iD in Amsterdam securing €2 million to grow its SaaS verification platform, Italy’s Trustfull raising €6 million to enhance its fraud-prevention technology, and London-based FALKIN obtaining €1.7 million to advance proactive scam-detection tools.
These amounts contrast with the substantially larger €34 million secured by TMT ID, positioning the Romanian firm as an outlier in scale within its niche.
The broader trend aligns with EU-Startups’ reporting that European companies are increasingly addressing sophisticated AI-enabled threats, including deepfake-driven fraud, as outlined in our October analysis of escalating losses surpassing €1.3 billion.
“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, TMD ID was born out of the belief that the mobile phone was becoming the most important digital key to identity and trust. In 2023, TMT ID completed the acquisition of Phronesis Technologies, a leader in mobile identity solutions.
Its data network – which powers its identity verification solutions – spans three billion phone numbers across more than 200 countries and territories and performs over 100 million checks each day through direct integrations with mobile network operators. Its solutions are deployed by over 250 banks and financial institutions, e-commerce and insurance companies to simplify customer verification, reduce fraud and improve customer experience.
Demand for TMT ID’s services has driven 30% growth so far this year compared with 2024. Revenue from its identity and fraud product suite, which includes ‘know your customer’ and age verification, is up 80%.
This investment represents the first institutional partnership for TMT, which has been largely self-funded to date.
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.”
In 2024, global losses from fraud reached €863 billion ($1 trillion), reflecting the vulnerability of digital transactions. The age verification market alone is forecast to double in size over the next four years, from €3.5 billion ($4 billion) to €6.9 billion ($8 billion). TMT ID’s use of mobile network data complies with rules introduced in July 2025 under the UK Online Safety Act to protect young people from sensitive content.
BGF’s investment in TMT ID adds to a series of deals in 2025, including technology services provider PMC, embedded scheduling software company Cronofy, and hospitality accounting specialist Paperchase Accountancy. Recently, BGF pledged €1.1 billion (£1 billion) to high-potential businesses across London and the South East as part of a planned €3.4 billion (£3 billion) national capital deployment over the next five years.
This announcement follows BGF’s successful exits from fire suppression consultants BB7, which generated a 3x MM return and 21% IRR, and OrganOx, one of the UK’s largest MedTech exits at €1.2 billion ($1.5 billion), which generated a 10x MM and 69% IRR.
Read the orginal article: https://www.eu-startups.com/2025/11/with-fraud-losses-climbing-bgf-backs-romanias-tmt-id-as-it-eyes-expansion-to-bolster-digital-trust/
