Contactable, a South African provider of digital identity and eKYC solutions, has secured $13.5 million in funding to expand its platform and roll out new products across African markets.
The financing round was led by Venture Capitalworks, with backing from Fireball Capital, Ke Nako Capital, and Mavovo, the Centurion-based company said in a LinkedIn post.
Founded in 2012, Contactable offers an integrated platform for onboarding, identity verification, fraud prevention, and compliance. The firm plans to use the fresh capital to enhance its capabilities in Ultimate Beneficial Ownership checks, AI-powered tools, self-sovereign identity, and payments integration.
Chief Executive Officer Shaun Strydom said the funding will accelerate Contactable’s efforts to broaden access to trusted digital ID infrastructure. “This investment allows us to strengthen our platform and scale with our customers while positioning us to unlock growth opportunities across the continent,” he said.
Venture Capitalworks managing partner Brent Shahim said digital identity is “at the heart of financial inclusion and digital transformation” in Africa, adding that the firm sees significant growth potential in the sector.
Contactable has recently partnered with providers including Regula and ID Secure to bolster fraud detection. The company estimates Africa’s digital identity market could reach $3.4 billion by 2028.