South African integrated identity platform Contactable has raised US$13.5 million in funding to expand its onboarding and digital KYC offering to more markets across the African continent.
The Centurion-based digital ID and eKYC provider Contactable a single point of integration for customer onboarding, identity verification, fraud reduction and compliance – enabling businesses to manage the entire digital lifecycle securely and seamlessly.
The startup’s US$13.5 million funding round was led by Venture Capitalworks, together with co-investors including Fireball Capital, Ke Nako Capital and Mavovo. Contactable will use the new funding to pursue innovations in Ultimate Beneficial Ownership, AI, self-sovereign identity and payments 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.”
Brent Shahim, managing partner at Venture Capitalworks, said he believes in the potential of digital identity in opening up economic opportunities in Africa.
“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.
