Seaya Andromeda invests in the merger of Veridas and Fourthline to create Europe’s leading digital identity and KYC provider

Amsterdam & Pamplona, November 3, 2026

Seaya Andromeda, a €300 million fund classified as an Article 9 fund under the European Union’s Sustainable Finance Disclosure Regulation (SFDR), has invested in the merger of Spanish company Veridas and Amsterdam-based Fourthline. The transaction creates a leading European provider of digital identity and Know Your Customer (KYC) solutions, combining complementary capabilities in identity verification, regulatory compliance and fraud prevention.

Seaya Andromeda joins the shareholder base alongside Finch Capital, an existing investor in the company, to support its next stage of growth. The transaction will enable the group to accelerate its international expansion, strengthen its technological capabilities and complement its organic growth through further acquisitions.

The combined group will generate more than €50 million in recurring revenue in 2026 and expects to reach €85 million in recurring revenue by 2029, with plans to accelerate its international expansion and pursue further acquisitions.

The resulting company has more than 400 employees, over 300 of whom work at its technology development centres in Pamplona and Barcelona. It serves more than 350 clients across 25 countries, including major banks and neobanks.

Paul Stoddart, CEO of Fourthline, will become CEO of the combined company, while Eduardo Azanza, CEO of Veridas, will serve as its Chairman. The group will be headquartered in Amsterdam, with offices in Stockholm, Pamplona, Barcelona, Mexico City, São Paulo and Boston.

Following completion of the merger, Paul Stoddart, CEO of Fourthline, said: “The closing of this transaction marks the birth of a world-leading provider of digital identity and fraud prevention solutions. From today, a company onboarding customers in Amsterdam, Madrid, London, Mexico City, São Paulo or Bogotá will be able to apply a single verification standard through one provider. Our first priority is to ensure continuity of service for our existing customers; our second is to give them access to new capabilities and greater added value”.

Eduardo Azanza, Chairman of the company, added: “Our mission is clear: to distinguish what is genuine from what is fake so that our customers can build relationships based on trust. This merger gives us the talent, technology and reach to take that mission further than either company could have achieved on its own. Together, we are multiplying our ability to fight fraud, with regulatory compliance as our starting point and a firm commitment to the ethical use of artificial intelligence. Born in Europe and with a global presence, we are now moving forward as one team, combining complementary capabilities with a shared ambition. Forward. Together”.

Alfonso Díaz, Director at Seaya Andromeda, said: “We are delighted to invest in Fourthline and Veridas and support them in their next stage of growth. Both companies have built outstanding businesses, with strong teams, proprietary technology and complementary capabilities across products and markets. We believe this combination has enormous potential to become a global leader in digital identity, and we are excited to support its international expansion and future growth”.

Seaya Andromeda’s investment in the company resulting from the integration of Fourthline and Veridas aims to protect and democratise digital identity in the age of generative artificial intelligence. On the one hand, its technologies promote financial and digital inclusion among vulnerable populations (SDGs 8 and 10). On the other, they constitute critical cybersecurity infrastructure (SDG 9), protecting the system against automated fraud and deepfakes. By applying privacy-by-design principles and mitigating algorithmic bias, the company also helps safeguard citizens’ digital rights and privacy (SDG 16).

An international technology platform with complementary capabilities

Founded in Pamplona in 2017 as a joint venture with BBVA, Veridas specialises in biometric identity verification, document authentication and fraud prevention. Fourthline, founded in Amsterdam in the same year, provides digital identity and regulatory compliance solutions to some of Europe’s leading financial institutions, including Revolut, N26, Trade Republic, Qonto and Rabobank.

The merger combines Fourthline’s presence in Northern and Central Europe with Veridas’ operations in Southern Europe, Latin America and the United States. In addition to expanding its international reach, the transaction brings together Fourthline’s regulatory compliance capabilities with Veridas’ proprietary biometric and fraud prevention technology. This complementary expertise will enable the new group to offer financial institutions and other regulated businesses an end-to-end solution for identity verification, fraud prevention and regulatory compliance, while supporting its expansion into new markets.