Nexus gets EUR 29M in funding for its Smart ID solution.

Nexus Group, a Stockholm, Sweden-based company providing easy-to-manage identification solutions, announced getting into an agreement with EIB (European Investment Bank) for a EUR 29M ($34.4M) loan.

The loan will help further accelerate the pace of Nexus’ development of its identity and access management products.

Nexus, founded in 1984 and led by CEO Lars Pettersson, has created an easy-to-manage identification solution that lets organizations’ users identify themselves visually, log in, open doors, sign transactions, make payments, and use follow-me printing – with one single  “Smart ID”.

This digital identity is most often hosted on a card, but mobile IDs and other authenticators can also be used. The Smart ID solution is also used for the “internet of things”, to issue and manage trusted digital identities for things, making it possible to protect their communication.

Nexus has 300 employees across 17 offices in Europe, India and the US, as well as a global partner network.