Cambridge online banking authentication spin-out Cronto has been sold to data security firm VASCO for just under $22m.

US-based VASCO acquired all of the Cronto stock in exchange for a cash settlement of €15m with a further earn-out of up to €2m.

Cronto, founded in 2005 as a Cambridge spin-out, specialises in providing image-based transaction authentication, known as CrontoSign, for online and mobile banking. Also known as photoTAN in Germany, the company provides security for a number of banks, most…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.

Not sure if you have a subscription?