Belgium CIAM specialist TrustBuilder joins inWebo Group, an Identity and Access Management (IAM) specialist backed by French investment fund Essling Expansion.This rapprochement will enable the Group to accelerate its international expansion and product development.
inWebo Group was founded in April 2021 when Essling Expansion, the growth Equity fund of Essling Capital, a French independent asset management company that manages and advises over €1.2 bn, led the reorganization of Multifactor Authentication (MFA) specialist inWebo Technologies’ capital with two other renowned minority investors, Bpifrance and Entrepreneur Invest. With Essling Expansion as the company’s majority shareholder and Olivier Perroquin as President, inWebo Group put in motion its plan to build a global cybersecurity SaaS platform focused on digital identity, access management and data protection for customers in Europe and overseas countries through a buy& build strategy.
With the acquisition of TrustBuilder, inWebo Group is now built around two flagship companies: inWebo Technologies (based out of Paris), whose specialty is Multifactor Authentication, and TrustBuilder (based out of Ghent), that designs powerful, customer-centric IAM solutions. Together, the Group’s offer covers a larger part of the IAM market and is now able to serve customers worldwide even better with a complete set of best-of-breed cybersecurity products. Working together will further drive the international reach of both inWebo Technologies and TrustBuilder and will open up new R&D opportunities to bring disruptive innovations on the IAM market.
“The acquisition of TrustBuilder will allow inWebo Group to generate multiple synergies, above and beyond the immediate cross-sell plan,” said Oliver Perroquin, President of inWebo Group. “The product portfolios of inWebo Technologies and TrustBuilder are very complementary. This provides each company with an immediate scope of new functionalities, and a strong basis for the addition of new features.”
“Becoming part of inWebo Group creates tremendous opportunities for TrustBuilder and our customers,” said Frank Hamerlinck, CEO of TrustBuilder. “With the financial backing of Essling Capital, we can continue to grow internationally and intensify the further development of our unique product set. The investment guarantees our customers will continue to benefit from the current high level of quality products and (professional) services.”
Frank Hamerlinck is a successful multi-entrepreneur: he cofounded SaaS-company Porthus, which was acquired by Descartes in 2010, and also co-founded NG Data. As TrustBuilder’s CEO and now a member of inWebo Group’s executive team, Frank Hamerlinck, will play a key role in achieving inWebo Group’s strategic plans.