Entersekt, a South African FinTech startup, has announced that it has received a multi-million dollar investment to help it expand internationally. The investment transaction came from Rand Merchant Investment Holdings through AlphaCode, and Nedbank Private Equity through its private equity investment vehicle, BoE Private Equity Investments, who each acquired minority shareholdings in the FinTech company.
The investment amount has not been disclosed.
“We are immensely honored that investors of such a high calibre have endorsed our long-term vision in this way,” said Schalk Nolte, CEO at Entersekt.
Entersekt has various solutions that, among others, provide online and mobile banking authentication and security.
“We look forward to working together at a board level to unlock the significant potential we see in the global market. We can now accelerate beyond our very healthy organic growth and rapidly establish a presence in new territories. We have a solid foothold in Africa, Europe and the United States, but our technology can provide as much value to enterprises in other regions. Enterprise-grade security solutions that streamline consumer mobile experiences, meet compliance obligations, and provide a launchpad for innovation have wide and growing applicability.” added Nolte.
Earlier in 2017 Entersekt were awarded the "2017 Banker Africa Award For Best Mobile Security Technology" for the second year running.