Device identity and authentication solution developer Entersekt has received a strategic investment from Accel-KKR.
With the capital, the company plans to accelerate its roadmap, hire more staff and expand into new markets.
Headquartered in Cape Town, Entersekt currently secures more than one billion transactions each month and protects millions of financial services customers around the world.
Its platform offers a mobile identity system for security and digital experiences, offering passwordless login, secure payments and smart messaging.
The company recently released a new FIDO authentication tool earlier this year. This solution, which is easy to integrate, helps clients benefit from an online authentication system alternative to passwords.
Entersekt CEO Schalk Nolte said, “We are very excited to have Accel-KKR on board. The industry is experiencing a wave of innovation in areas like omnichannel and passwordless authentication, 3-D Secure and open banking, all of which are strategic focus areas for Entersekt. The investment from Accel-KKR will help us scale our business to reach more organizations across more regions with our cloud-first solutions.”
The size of the investment was not disclosed.
Accel-KKR is a seasoned FinTech investor. It recently led the $65m Series B funding round of end-to-end fraud prevention and detection platform FRISS. The company, which is based in the Netherlands, uses AI to help insurers reduce loss ratios and increase operational efficiency.
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