IDEX Biometrics, a fintech firm that provides fingerprint identification solutions, raised NOK 30 million in July 2025 through a private placement heavily backed by insiders, despite governance concerns over repeated dilutions, a 99% share price drop since 2020, and minimal commercial traction. While insider participation suggests confidence in the company’s biometric payments strategy and partnerships with Mastercard and regional banks, its ongoing financial instability, including a $14.4M net loss and low cash reserves, raises questions about capital efficiency. Investors must weigh the potential of IDEX’s innovative solutions against the risks of poor execution, governance red flags, and a pattern of shareholder dilution that has been used to extend the runway without delivering sustainable growth.
IDEX Biometrics Issues More Shares in Private Placement
