Funding to drive US expansion and product innovation in mobile data intelligence as digital trust and cybercrime concerns intensify
TMT ID, a leading mobile data and identity intelligence provider, has raised £30 million from BGF, the UK and Ireland’s most active growth capital investor, to accelerate its expansion and support global organisations in tackling cybercrime, preventing fraud and strengthening digital trust.
The investment will enable TMT ID to broaden its product and service portfolio, prioritise international growth with a particular focus on the US, and deepen relationships with its more than 260 customers worldwide, which range from small enterprises to major global technology players.
Strong demand for TMT ID’s services has driven year-to-date growth of 30% compared with 2024. Revenue from its identity and fraud portfolio – including ‘know your customer’ (KYC) and age verification solutions – has risen by 80%, underlining the pressure on businesses to protect customers from online fraud and cybercrime while maintaining robust age controls. The company’s customers include some of the world’s largest technology, financial services and e-commerce brands.
This marks TMT ID’s first institutional funding round, following a period in which the business has been largely self-financed.
Global losses to fraud reached US$1 trillion in 2024, highlighting the fragility of digital transactions. The age verification market alone is forecast to double over the next four years, from US$4 billion to US$8 billion. TMT ID’s sophisticated use of mobile network data enables organisations to comply with rapidly evolving legal and regulatory requirements, including rules introduced in July 2025 under the UK Online Safety Act designed to shield young people from harmful or sensitive content.
TMT ID’s data network, which underpins its identity verification products, covers more than 200 countries and territories and supports over 100 million checks per day through direct connections with mobile network operators. These real-time risk and identity assessments support secure account opening, user authentication and age verification, while also helping to identify transaction fraud, SIM-swap activity and port-out fraud.
The company was founded by John Wilkinson and Fergal Parkinson, who recognised the mobile phone as the critical digital key for identity and trust. In 2023, TMT ID completed the strategic acquisition of Phronesis Technologies, a specialist 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 investment was led by Matthew Connor, Elena Kovalikhina, Dylan Kaye and Alex Snodgrass from BGF’s London investment team.
As part of the transaction, David Quantrell will join the TMT ID board as Non-Executive Chair. David brings extensive board and leadership experience, having chaired Speechmatics, Retail Insight and LineView, as well as serving as a non-executive director at Egress and AIM-listed Oxford Metrics. He has a strong track record in building technology businesses and deep knowledge of the US market, developed through senior roles 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 continues a busy year of activity in 2025, which has included backing technology services provider PMC, embedded scheduling software specialist Cronofy and hospitality accounting firm Paperchase Accountancy. BGF recently committed £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.
The announcement follows successful exits for BGF from fire safety consultancy BB7, which delivered a 3x MM return and 21% IRR, and OrganOx, one of the UK’s largest MedTech exits at $1.5 billion, generating a 10x MM return and 69% IRR.
