Add-on Acquisition • Internet Software and Services

Parallel Markets Acquires Passbase

On March 28, 2023, Parallel Markets acquired internet software and services company Passbase

Acquisition Context

This is Parallel Markets’ 1st transaction in the Internet Software and Services sector.
This is Parallel Markets’ 1st transaction in Germany.

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M&A Deal Summary
Date	March 28, 2023
Target	Passbase
Sector	Internet Software and Services
Buyer(s)	Parallel Markets
Deal Type	Add-on Acquisition

Target Company

Passbase

Berlin, Germany

Passbase is a digital identity verification company that makes facial recognition, liveness detection, ID verification and KYC and AML compliance accessible through a suite of flexible developer tools. Passbase is based in Berlin, Germany.

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Buyer Overview 1

Buyer

Parallel Markets

New York, New York, United States

Category	Company
Founded	2018
Sector	Financial Services

DESCRIPTION

Parallel Markets provides a portable identity solution that allows investors to onboard at any financial institution with a single click. Parallel acts as a global repository, maintaining a registry of verified accreditation, KYC, AML and CFT information. Parallel Markets was founded in 2018 and is based in New York, New York.

Deal Context for Buyer	#
Overall	1 of 1
Sector: Internet Software and Services	1 of 1
Type: Add-on Acquisition	1 of 1
Country: Germany	1 of 1
Year: 2023	1 of 1

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