SA’s Contactable raises $13.5 M to expand digital ID service across Africa
Contactable, a South African integrated identity platform, has raised $13.5 million in funding to extend its digital KYC and onboarding services to additional African markets.
Businesses can securely and easily manage the full digital lifecycle with Contactable, a Centurion-based digital ID and eKYC provider that offers a single point of integration for customer onboarding, identity verification, fraud reduction, and compliance.
Venture Capitalworks led the startup’s US$13.5 million funding round, with Fireball Capital, Ke Nako Capital, and Mavovo serving as co-investors. With the additional funds, Contactable will investigate advancements in self-sovereign identity, AI, Ultimate Beneficial Ownership, and payment integration.
“This investment is an exciting development for Contactable. It allows us to strengthen our platform and expand with our customers, while continuing to build the digital identity infrastructure that supports Africa’s growing digital economy,” said Contactable CEO and founder Shaun Strydom.
“This partnership with Venture Capitalworks will allow us to deepen our customer partnerships, extend our reach into underserved markets and enhance our ability to deliver secure, trusted digital identity solutions where they are needed most.”
Digital identity has the potential to create economic opportunities in Africa, according to Brent Shahim, managing partner at Venture Capitalworks.
“Digital identity is at the heart of financial inclusion and digital transformation. Our strategy is to partner with proven leaders like Shaun and his team, bringing, beyond capital, the operational commitment to accelerate their growth,” he said.
