Accel-KKR, a technology-focused private equity firm located in the United States, has made a “substantial” investment in Entersekt, a major player in the device entity and authentication space situated in Stellenbosch, South Africa.
The deal’s value has not been published, nor has the percentage share that Accel-KKR has purchased in Entersekt, which is privately held.
“The company will use the investment to help scale the business to reach more organisations across more regions with its cloud-first solutions, as the industry is experiencing a wave of innovation in areas like omnichannel and password-less authentication, 3-D Secure and open banking,” a statement said.
Rand Merchant Investment (RMI) Holdings has led two prior financing rounds for Entersekt and is a substantial investor in the company through AlphaCode, RMI’s fintech incubator.
“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. As a partner, Accel-KKR is committed to helping the Entersekt team accelerate growth and continually deliver innovation in their category,” Joe Porten, principal at Accel-KKR said.
Entersekt device authentication Entersekt device authentication
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer