SA fintech Entersekt attracts investment from US private equity firm

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South African fintech Entersekt, which has developed technology that protects millions of financial services customers across the world, has secured investment from US-based private equity firm Accel-KKR to accelerate its roadmap and fuel expansion into new markets.

A global payment security company headquartered in Cape Town, Entersekt is an innovator in the global authentication market, with recent market and industry firsts including a Europe-first payment authentication solution based on the FIDO standard, and a world-first implementation of an AI-powered 3-D Secure solution currently making rapid progress at a renowned bank. 

Entersekt currently secures over one billion transactions every month, protecting millions of financial services customers across the globe. The company is now set for further growth after announcing a strategic investment from Accel-KKR, a leading technology-focused private equity firm. The investment will enable Entersekt to accelerate its roadmap and fuel expansion into new markets.

“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.”

Joe Porten, principal at Accel-KKR, said Entersekt is known for its deep vertical expertise and successful track record in the financial services industry. 

“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.”

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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