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. 

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%, reflecting the increasing need for businesses to robustly protect customers from online fraud and cybercrime, as well as ensuring age controls are adhered to. Customers include some of the largest companies in tech, finance and e-commerce.

This investment represents the first institutional partnership for TMT, which has been largely self-funded to date.

In 2024, global losses from fraud reached $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 $4 billion to $8 billion. TMT ID’s advanced use of mobile network data helps organisations meet emerging legal and regulatory obligations, including compliance with rules introduced in July 2025 under the UK Online Safety Act to protect young people from sensitive content.

TMT ID’s data network – which powers its identity verification solutions – spans more than 200 countries and territories and performs over 100 million checks each day through direct integrations with mobile network operators. These real-time risk assessments and identity validations enable online account opening, authentication and age verification, as well as the detection of transaction, SIM-swap and port-out fraud. 

The business was founded by John Wilkinson and Fergal Parkinson who identified that the mobile phone was becoming the most important digital key to identity and trust. In 2023, TMT ID completed the transformative acquisition of Phronesis Technologies, a leader in mobile identity solutions.     

John Wilkinson, CEO of TMT ID, said: “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 customers 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.

“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."

The deal was led by Matthew Connor, Elena Kovalikhina, Dylan Kaye, and Alex Snodgrass, from BGF’s London investment team. 

David Quantrell will join the TMT ID board as Non-Executive Chair. David has extensive boardroom experience, having chaired Speechmatics, Retail Insight, and LineView, and held non-executive roles at Egress and AIM-listed Oxford Metrics. He is a proven operator with an extensive track record of building technology businesses and has extensive knowledge of the US market, given executive roles held at Nortel Networks, Hewlett Packard, McAfee and Box. 

Matthew Connor, Investor at BGF, said: “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.”

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 billion to high-potential businesses across London and the South East as part of a planned £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 $1.5 billion, which generated a 10x MM and 69% IRR. 

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