SA based fintech Entersekt received funding from a US private equity group

Entersekt, a South African fintech that has built technology that protects millions of financial services users throughout the world, has received funding from Accel-KKR, a private equity group located in the United States, to help it accelerate its roadmap and expand into new countries.

Entersekt, a global payment security company based in Cape Town, is a pioneer in the global authentication market, with recent market and industry-firsts including a Europe-first payment authentication solution based on the FIDO standard, as well as a world-first implementation of an AI-powered 3-D Secure solution currently in rapid development at a prestigious bank.

Entersekt presently protects millions of financial services consumers across the world by securing over one billion transactions every month. After announcing a strategic investment from Accel-KKR, a major technology-focused private equity group, the company is now poised for even more development. Entersekt will be able to expedite its roadmap and expand into new areas thanks to the financing.

“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 organisations across more regions with our cloud-first solutions,” said Schalk Nolte, Entersekt CEO.

“Providing frictionless user experiences and allowing organisations to customize their user journeys around their specific needs is a very important part of our value proposition. It brings to life our vision of bridging the gap between identity, authentication and payments.”

Entersekt is recognised for its strong vertical knowledge and outstanding track record in the financial services business, according to Joe Porten, principal at Accel-KKR.

“The company scores high marks from customers, especially for its innovative technology that completely reimagines user experiences,” he said. “As a partner, Accel-KKR is committed to helping the Entersekt team accelerate growth and continually deliver innovation in their category.”