Mobile TimeWorld News 

Valid acquires 10% of IDTech Vsoft

Vsoft 10% Valuable Earned. Joining IDTech Paraíba based on retail shares is part of Valid’s strategy to increase the range of products offered to its customers and gain new ones. The transaction amounts were not disclosed.

The investment was made through Valid Ventures, a fund recently created by the company that has $ 300 million for startups. The idea is to continue investing in the company’s core businesses and create complementary fronts by participating in startups that have new technologies and products of interest.

The issue was addressed during Valid’s online event this Thursday, 30.

Rafael Sbampato, director of technology and new business and head of the investment committee at Valid Ventures, explained that investments in startups will occur gradually, without the need to buy 100% of the company, to give freedom to entrepreneurs. On the other hand, Valid will offer the business its expertise, such as: access to its clients, executive mentoring, financial, legal and infrastructural support, in addition to financing series A and B. The agreement provides the option to take control of companies in the future.

Rafael Sbampato, director of technology and new business and chairman of the investment committee at Valid Ventures, during his participation in an online event promoted by the company

It is worth noting that Vsoft specializes in identifying people and certifying the process.

With Vsoft, Valid has the ability to complete its geographical operations in Brazil, starting to operate document issuance processes in five other Brazilian states, where it has not yet functioned and Vsoft has operated.

In addition, it also guarantees the expansion of the product and technology portfolio, being able to explore new businesses in a market that Valid already knows well. This applies to the public market, through initiatives with the State Department of Traffic and Digital Governance, as well as to the private market with solutions that allow certification of processes for driving schools, using artificial intelligence.

According to Ilson Bressan, director of Valid ID, Vsoft is complementary to Valid, in the sense that it is “at an earlier stage in the document issuance process. “He gives the process that will result in the issuance of a document. “And it works with a biometric engine,” he explains. “For example, Vsoft has a solution that guarantees confirmation of driving school attendance – one of the responsibilities of the driving school is to verify that the student has attended the class. They have an ID camera that records the people in the room to make sure that person is who they are. “This is a product that will work in the countries where we are,” he added.

Related posts

Leave a Comment