South African digital identity provider Contactable has raised $13.5 million in a funding round led by Venture Capitalworks, with participation from Fireball Capital, Ke Nako Capital, and Mavovo. The investment aims to expand Contactable’s digital onboarding and electronic Know Your Customer (eKYC) solutions across the African continent
Founded in 2012 and headquartered in Centurion, Contactable offers an integrated platform that provides secure and efficient customer onboarding, identity verification, fraud prevention, and regulatory compliance. The company’s services cater to various sectors, including financial services, telecommunications, insurance, retail, motor finance, and payments.
The newly acquired capital will enable Contactable to enhance its platform by integrating advanced technologies such as artificial intelligence (AI), self-sovereign identity frameworks, and ultimate beneficial ownership (UBO) solutions. Additionally, the company plans to incorporate seamless payment integrations to further streamline the digital identity lifecycle for businesses and their customers.
Digital identity infrastructure is crucial for fostering financial inclusion and supporting the digital transformation of economies across Africa. By providing a secure and scalable solution for identity verification and compliance, Contactable plays a pivotal role in enabling businesses to expand their services to underserved markets, thereby contributing to the continent’s economic growth.
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