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In late 2022, financiers Jorge Todd and Félix Mahuad launched Trompo Capital in Mexico. After approximately 3 years of searching, they have successfully acquired 100% of Nubarium, a leading identity validation, biometrics, and KYC company in Mexico, marking an important milestone in the consolidation of the digital identity ecosystem. The deal involved 17 local and international investors. The structure included a 20% LTV, with seller financing provided by the Seller. The management team will remain in charge of operations, ensuring technological and strategic continuity, operational stability, and a smooth transition for clients and business partners.
Founded in 2017 in Mexico, Nubarium is a technology company specializing in automated identity verification and digital onboarding solutions for businesses. Through its suite of tools and APIs, Nubarium helps companies securely and efficiently validate official documents (such as tax IDs and national IDs), perform biometric checks, and automate repetitive processes using artificial intelligence and robotic process automation. By integrating these services into websites and mobile apps, organizations can streamline customer onboarding, reduce fraud, and ensure compliance with regulatory requirements, all while improving the user experience.
The company delivers its solutions to financial institutions, insurance companies, fintechs, mobility providers, and e-commerce companies across Latin America. Positioned to benefit from rising regulatory demands and the adoption of biometric technology, Nubarium is now expanding into sectors such as travel, hospitality, education, gaming, gambling, sports events, and other high-growth industries requiring advanced identity security. It has more than 350 clients and is a high-growth, high-margin company (EBITDA margins above 40%) with high recurring revenue (+95%), low churn (less than 3%), and an asset-light, 100% cloud-based model.
With this acquisition, Trompo Capital aims to accelerate the next phase of Nubarium’s growth by strengthening its commercial strategy and regional expansion, continuing investment in AI-driven product development, scaling operational processes, and implementing best practices in corporate governance and strategic planning.
“We are convinced that digital identity verification is a critical technological need for the future of financial services and any digital onboarding process in Mexico and Latin America. Nubarium has built a robust platform with an exceptional team, and we are excited to lead this new stage of growth,” Trompo Capital stated. They added: “We selected the company for its strong historical performance and significant future growth potential. Our focus has been primarily on tech businesses, and while many platforms we reviewed were limited to a single industry, Nubarium benefits from a large total addressable market, attractive tailwinds such as the adoption of biometric CURP in Mexico, and a presence across Latin America. The business also has very healthy fundamentals, including no financial debt and high margins.”
Legal: Ritch Mueller / DD: Alvarez & Marsal / Tech DD: Spellbound Partners / Intellectual Property: Arochi & Lindner / M&A (Seller): Adquiere.co
