Signicat
👤 Gunnar Nordseth (PKI and digital-identity expert; started in 2007 as Nordic BankID took off, then made Signicat the neutral hub across 35+ eIDs.)🌐 siteLinkedIn
KYC law says every bank must verify identity. Signicat wired up 35+ eID schemes so they verify through one integration.
Will it work? · our read
Regulation is demand. Mandated and hard to leave. Regulated onboarding needs verified identity, and Signicat owns the integrations to the eID schemes that supply it. The moat is other people's law.
01How the money moves
Bank must verify a new customer's identity (KYC/AML law)
→
Signicat routes it to the right national eID or document check
→
Charge per verification and per e-signature
02The numbers
NOK 1B+ (about $95M)Stated2023 turnover (company)
FY2023source:
Over NOK 1B / EUR 90M (about $95M), FY2023
FY2023 figures, from Signicat's own results release. Signicat press release
Up from NOK 180M (EUR 19M) in 2018 — about 5x in five years.
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See a full teardown, free → Transistor.fmSourcesSources last checked 28 July 2026
Signicat FY2023 results release — turnover over NOK 1B / EUR 90M+, 1B+ transactions, 35+ eIDs, 13,000+ customers.Nordic Capital acquires Signicat (2019) — 2018 revenue NOK 180M / EUR 19M, founded 2007 Trondheim.Gunnar Nordseth — co-founder, ex-CEO, now Chief of Innovation and Strategic Partnerships.
Revenue is STATED: Signicat's own FY2023 results release says turnover topped NOK 1 billion (above EUR 90M, about $95M) with 1B+ transactions — first-party, not audited here. NOK-to-USD converted at 2023 rates (about 10.5 NOK/$). The 2018 baseline of NOK 180M / EUR 19M is from Nordic Capital's 2019 acquisition release. This is a group figure (includes acquired units such as Dokobit and Encap). Growjo and Tracxn carry looser third-party estimates; we led with the company's own number. Verified against the release page. We never score you.