TMT ID secures GBP £30m to boost global age verification push
British mobile data intelligence firm TMT ID has secured an investment of GBP £30 million from BGF to accelerate its global expansion and product development. The funding will be used to enhance TMT ID's offerings in real-time age verification and fraud prevention, as well as support international growth, with a particular focus on the United States.
Rising demand
TMT ID has experienced rapid growth driven by demand for online verification and fraud detection solutions. The company reported an increase in revenue of 80% from its 'know your customer' and age verification suite. Overall business growth reached 35% so far this year, attributed to increasing regulatory needs and a focus on digital safety in banking, insurance and eCommerce sectors.
According to data cited by TMT ID, there has been a significant uptick in the adoption of age assurance solutions-up 60% in regulated sectors and 66% in unregulated industries. Tighter online regulations, particularly those introduced under the UK Online Safety Act in July 2025, have intensified the demand for robust age and identity checks.
Technology reach
TMT ID's core platform uses mobile number-based intelligence to perform over 100 million checks per day across more than 200 countries and territories. Direct integration with mobile network operators enables real-time risk assessment, identity validation and fraud detection. Key applications include the opening of online accounts, authentication, age verification, and the detection of SIM-swap and port-out fraud.
The company currently serves more than 260 organisations worldwide. Its customer base includes businesses ranging from startups to multinational technology, finance and eCommerce players.
Business growth
TMT ID was founded in 2016 by John Wilkinson and Fergal Parkinson, based on the increasing relevance of mobile phones in digital identity. In 2023, the company acquired mobile identity solutions provider Phronesis Technologies. The age verification market served by TMT ID is forecast to double in size over the next four years, from USD $4 billion to USD $8 billion. The firm notes that worldwide losses from fraud in 2024 reached USD $1 trillion, underlining the scale of the problem its solutions address.
BGF's investment marks TMT ID's first major institutional partnership after a period of being mostly self-funded.
Backer's view
David Quantrell will join TMT ID as Non-Executive Chair. He brings boardroom experience from roles at Speechmatics, Retail Insight, LineView and executive experience at several global technology firms with a strong background in the US market.
"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," said Matthew Connor, Investor, BGF.