Embedded Identity-Verification Software Platform
A confidential sale run by AMIVA Equity Partners, on deal ai.
$3.2M
$1.7M
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AMIVA Equity Partners has been exclusively retained to advise on the sale of a profitable, debt-free identity-verification software company embedded within the account-opening workflows of several hundred US and Canadian banks and credit unions.
Integrated into two core-banking platforms since 2004, the Company's suite captures, extracts and verifies identity documents at the point of account opening — a statutory requirement under the USA PATRIOT Act. Structural switching costs, 104% net revenue retention and a 77% gross margin underpin a durable, cash-generative earnings stream. The Company has recently completed development of a next-generation verification suite — including real-time DMV checks, facial comparison and mobile driver's licence reading — positioning it to capture incremental recurring revenue across an installed base of approximately 55,000 devices. A newly signed Salesforce VAR agreement and a first direct international sale broaden the addressable market without adding headcount. With US$1.7M of adjusted EBITDA before new-product development (53.8% margin), over US$2M of dividends distributed since January 2023, and a Rule of 40 score of 66, the Company offers a compelling combination of growth, margin and defensibility for a strategic or financial acquirer.
Key highlights
- ~55,000 devices on paid annual support with 104.0% net revenue retention — renewal billing up 25% since FY2023
- Embedded in two core-banking platforms since 2004; removing the product requires re-plumbing account opening — creating structural switching costs
- ~60% of gross profit is recurring revenue billed annually in advance; 77.0% gross margin; debt-free balance sheet with US$2.1M of dividends paid since January 2023
- Next-generation verification suite (real-time DMV check, facial comparison, mobile driver's licences) largely built and paid for — incremental revenue on an existing installed base
- New Salesforce VAR channel signed September 2026 and first direct international sale completed August 2026, expanding routes to market without additional headcount
- Rule of 40 score of 66; EBITDA before new-product development up 43% since FY2023 with a lean operating model requiring only a part-time general manager to maintain
The non-disclosure agreement
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