June 9, 2025, marks the fifth anniversary of the “new” Verisec Group. Let us take a moment to reflect on the remarkable journey of these past few years.
Time flies. What began as a typical Monday for Verisec employees around the world quickly turned into a celebration, thanks to a surprise anniversary announcement from Anders Henrikson, CEO of Verisec. So now we are celebrating!
The current Verisec took shape in June 2020 as a carve-out from the original Verisec – now Freja eID – to form a standalone entity focused on global markets in authentication and secure payment transactions.
As a history enthusiast, Anders Henrikson shared some of the Group’s most notable milestones:
Since 2020, we have expanded into new geographic markets, including Australia and Italy, and welcomed talented team members not only from those countries but across the globe. These new colleagues have brought decades of industry expertise and valuable capabilities with them. People are our greatest asset – this alone is a major achievement.
In 2022, after a successful round of capital raising, we welcomed Priveq, a private equity firm, as a growth partner. This funding enabled us to accelerate the development of our patented 10XPAY Payment Cryptography as a Service, a major technological milestone. Our authentication service, VerisecUP, had already been patented years earlier.
The capital raised also supported our expansion through acquisition. Our first such target, the Italian firm Trittico, has been integrated seamlessly – thanks in large part to its CEO Massimo Botturi and his enthusiasm. It already feels like we’ve always been one company.
We launched 10XPAY in Europe and the United Arab Emirates and have since rolled it out across all our regions, leveraging Verisec’s 24/7 “Follow the Sun” support services. The platform also provides a secure foundation for Thales and Entrust payment and general-purpose HSMs, further strengthening our partnerships.
As a cherry on top, our new Cloud service has continued to break transaction volume records daily-processing incredibly high volumes within a 24-hour period. This achievement is a testament to the hard work and dedication of Aidan Corcoran, product owner of 10XPAY, and of our Dev & Operations teams
Beyond product innovation, many people have worked tirelessly behind the scenes to build a scalable foundation: governance, compliance, corporate policies, legal structuring across the Verisec Group, partnerships with external advisors, budgeting and forecasting, M&A activities, procurement, cash flow management, reporting, audits – and much more. As Verisec grows, we continuously adapt and evolve these processes.
Growing a global company is never static – It is always dynamic, and always exciting.
“What Verisec has achieved so far has exceeded my expectations when we first launched in 2020,” reflects Anders Henrikson. “Much of this journey has felt like climbing a steep hill – building the foundations is the hard part, and once set up, I like to believe it becomes just a bit easier to manage. At least, I hope that’s true.”
