Identification Process on Companisto Explained Simply

Companisto has recently made it possible for investors to invest directly in the equity of a startup or growth company. But before investors can make their first equity investment in Companisto, it is necessary for them to identify themselves as a person. The procedure of authentication is prescribed by law by the Money Laundering Act (§ 11 GwG). Without successful authentication, investors cannot subscribe for company shares or shares via Companisto.

Identification is a one-time process that does not have to be repeated for subsequent investments. Once investors have identified themselves, they can make any number of equity investments through Companisto.

To carry out the identification process, investors must have a valid ID ready at hand. In order to complete the process, they also need a computer with a webcam (not older than 3 years) or a mobile device (smartphone or tablet). In the following, we explain how to successfully identify yourself step by step.

NOTE: Please note that you cannot make any equity investments without successful identification.

Step 1: Select Account Type

First you need to select your account type: Would you like to invest as a private individual or as a company?

Step 2: Verification Information

Next, fill in the form with your personal data truthfully and completely and, if necessary, check it for accuracy. If you already have an account at Companisto that contains your data, they are already pre-entered. You only have to fill in the missing information.

If the identification process is aborted, you will receive a mail with a link from Companisto, which enables you to re-enter the identification process. In order to resume the identification process, you may have to log back into your Companisto account.

Step 3: Brokerage Contract & §23a KWG

In Step 3, you will receive the legally required brokerage contract and information on the security institution in accordance with §23a KWG. Please read and accept them by clicking on the respective checkboxes.

Step 4: Knowledge and Experience

Companisto is legally required to enquire into the knowledge and experience of investors regarding various product classes in securities, investments and other capital market products. Therefore, please answer the questions so that we can check whether the subscription of a capital investment corresponds to your knowledge and experience based on your previous investment behavior.

You can enter this information by marking the checkboxes in front of “Knowledge” and the relevant experience, which you can select by using the dropdown menu for the relevant investment product behind “Experience.”

Answering these questions is voluntary. If you do not wish to provide any information, please agree to the risk warning in the form. Simply click the checkbox in front of “I do not wish to provide any information. I am aware that this does not allow any statements to be made about my knowledge of capital market products and that I am acting at my own risk.”

Step 5: Authentication – The PostIdent and VideoIdent Processes

You can choose between two options for authentication: VideoIdent and PostIdent.

The VideoIdent procedure (provider: IDnow) allows you to complete the identification directly online. The PostIdent procedure (provider: Deutsche Post) is carried out offline in a Deutsche Post branch. To do this, you have to pause the process and continue it online later on.

The VideoIdent Process

IDnow is available worldwide. IDnow supports a variety of ID documents (such as passports or ID cards) according to the current ICAO standard - currently over 150 ID documents from over 50 countries.

The entire VideoIdent process takes about 15 minutes.

If you choose this method, you will be redirected to the IDnow page in your web browser. This type of identification is performed either with a computer with a webcam or a mobile device (smartphone/tablet) with camera.                                                                                              

In both cases, make sure that your webcam and the microphone of your computer or mobile device are switched on.

We recommend identification via a mobile device.

To do this, enter your mobile phone number on the page. You will receive a text message with the installation link to the "IDnow Online-Ident" app. Install the app on your mobile device. When opening, enter your "Ident-ID", which will be displayed to you on the IDnow website.

If you are conducting the identification on your computer, enter your mobile phone number and the expiry date of your ID card and confirm that you have a functioning webcam. The identification then takes place directly in the web browser.

To start the identification in both versions, you will be contacted by an IDnow employee via video chat immediately (max. after 120 seconds). He or she will explain the process to you and then check your data. You confirm that you are conducting the process for Companisto. With both Ident versions you must, among other things, hold your ID document up to the camera.

NOTE: Please note that your camera must be capable of recognizing holograms (not older than 3 years).

When the identification through IDnow has been successfully completed, you will be sent an "Ident-Code" by text message, which you must enter in a field that appears on your monitor/display. The identification process is successfully completed once the code has been entered. You will then receive confirmation of this from Companisto via email.

The PostIdent Process

Alternatively, you can use the offline PostIdent procedure.                                                                                                        

Please note that you cannot complete the investment in a single step when using PostIdent.

If you choose this procedure, we will send you a PostIdent coupon as a PDF file, which you can download. Take the printed PostIdent coupon to a Deutsche Post branch. In addition to the printed PostIdent coupon, you must also bring a valid ID (ID card or passport with registration certificate).

The procedure is carried out on site by a Deutsche Post employee. After successful identification, you will receive a printout to check your data, which you must sign on site. The PostIdent process is now complete for you as an investor.

Step 6: Completing Identification

In both identification procedures, you will receive an email from Companisto after successful completion of all steps with a link with which you can complete the identification.

You are now eligible for equity investments on Companisto.

Checklist - What do you need for the identification process?

VideoIdent Process

• Valid ID
• Computer with a webcam (no more than 3 years old, capable of recognizing holograms)
  or:
• Mobile device (smartphone/tablet)

PostIdent Process

• Valid ID
• PostIDent coupon

You can also view the identification process at a glance in this PDF file.

Do you have any questions about the identification process? Leave us a comment below