RMI and NPE Invest in SA’s Fintech Entersekt to Supercharge Global Expansion
Rand Merchant Investment Holdings (JSE:RMI) through AlphaCode, RMI’s innovation hub for fintech entrepreneurs and Nedbank Private Equity (“NPE”) through its private equity investment vehicle, BoE Private Equity Investments, have each acquired minority shareholdings in Entersekt in a multi-million dollar transaction. Entersekt is a Stellenbosch-based innovator that has developed world-class push-based authentication and app security technology.
The capital injection will be used to fund international expansion and research and development. All regulatory approvals have been obtained, including the Competition Commission of South Africa.
Entersekt targets global enterprises which require user-friendly and solid authentication and security products for interactions with their customers. Entersekt’s patented security products already protect close to 100 million transactions monthly and comply with the most stringent global regulatory guidelines. While the focus is financial services, the products and solutions have wider application in industries such as healthcare and insurance which also face security and regulatory challenges.
The company’s patented solution creates a secure channel between enterprise and user that not even Entersekt themselves can intercept, with banking clients seeing up to a 99% reduction in mobile fraud losses since implementation. Entersekt has already secured several large banking clients including Absa, Nedbank, Capitec, Investec, Swisscard, Equity Bank, Ecobank, Pluscard and First Bank of Colorado. The company has also extended beyond the banking sector providing authentication solutions for Old Mutual among others, and has signed reseller agreements in Europe and in the US. Entersekt continues to have a strong sales pipeline.
Mobile authentication is a fast-growing industry that is an enabler of financial services driven by the need to perform riskier transactions more simply without complex authentication processes. Recently a client’s customer processed a $65 million transaction via the mobile using Entersekt’s encryption technology. Entersekt’s disruptive model significantly reduces fraud at lower cost than other technologies while providing superior fraud prevention.
Dominique Collett, RMI Senior Investment Executive and head of AlphaCode explains the rationale for investment, “RMI through AlphaCode seeks investments in next generation fintech opportunities. We look for high growth businesses that are ready to scale and are led by strong entrepreneurial management teams. Entersekt met all these criteria. As RMI has experience of scaling companies globally and as providers of growth capital, we believe that this deal will add value to our portfolio of blue chip investments. It is AlphaCode’s second investment after Merchant Capital, which provides SMEs with working capital finance.”
Marthin Greyling, a Principal in the Nedbank Private Equity team commented: “Entersekt’s proven success in deploying its unique product offering at leading financial institutions as well as their strategic positioning to take advantage of the global growth in mobile application security and transaction authentication, make Entersekt an appealing investment. We look forward to partnering with AlphaCode and the existing shareholders to support the company’s global growth aspirations.”
“We are immensely honoured that investors of such a high calibre have endorsed our long-term vision in this way,” said Schalk Nolte, Entersekt’s CEO. “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.”
Entersekt is an innovator in push-based authentication and app security. The company’s one-of-a-kind approach harnesses the power of digital certificate technology with the convenience of mobile phones to provide financial services companies and their customers with full protection from online fraud. Built on open technologies for high availability, scalability, and simple integration, Entersekt’s patented security products protect millions of devices and transactions daily, while complying with the world’s most stringent regulatory guidelines. Enterprises across the globe look to Entersekt to strengthen the bond of trust they share with their customers, and to build on those relationships by introducing compelling, user-friendly new mobile and online services. www.entersekt.com.
About BoE Private Equity Investments
BoE Private Equity Investments is the investment vehicle for the Nedbank Private Equity business, one of southern Africa’s prominent mid-market private equity investors, with an established track record of successfully investing and partnering with management teams across a diverse range of growth companies and sectors. www.nedbank.co.za
About Rand Merchant Investment Holdings
Rand Merchant Investment Holdings, also referred to as RMI Holdings, is a JSE-listed investment holding company with an investment team of experienced, alternative thinking financial services specialists who actively partner smart and industry-changing management teams by being a stockholder of influence. www.rmih.co.za.
AlphaCode, a collaborative club for next generation financial services entrepreneurs, seeks to create a financial services entrepreneurial ecosystem by bringing together entrepreneurs, intrapreneurs, industry experts and thought leaders to connect, share knowledge and ultimately reshape the industry. AlphaCode was set up by the founders of RMI to identify, partner and grow disruptive, sustainable and scalable fintech businesses that will change the landscape of the financial services industry. www.alphacode.club
Jeanne Maartens, +27 21 815 2800
Michelle K Blumenau, +27 83 273 9891
Nedbank Private Equity/BoE Private Equity Investments:
Marthin Greyling, +27 11 295 8320
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Edgewater Networks Announces Event Sponsorship of BroadSoft Connections 201721.10.2017 00:00 | Tiedote
Edgewater Networks, Inc., the industry leader in Network Edge Orchestration, announced today that it is an event sponsor of the BroadSoft Connections 2017 user conference, which takes place October 22-25 at the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, AZ. During the event, Edgewater Networks will feature demonstrations of the latest end-to-end network interoperability capabilities, including Zero Touch Provisioning, UC Analytics from the core to the endpoint, SD-WAN optimized for BroadSoft, and much more. Continuing a long-standing partnership with BroadSoft, Edgewater Networks has completed another level of BroadCloud certification, this time for local survivability which is critical for business continuity for SMB and Enterprise customers. BroadSoft’s PacketSmart is available on all EdgeMarc Intelligent Edges. All elements of the Network Edge Orchestration are
More than 70 Companies to Showcase Top Tech at CES Unveiled Paris20.10.2017 18:08 | Tiedote
The Consumer Technology Association (CTA) today announced that more than 70 exhibitors will showcase their latest innovations at the now sold-out fifth annual CES Unveiled Paris The event will focus on the Internet of Things (IoT), connectivity and smart cities, and draw more than 600 attendees. CES Unveiled Paris will run from 2-7:30 PM on Tuesday, October 24, 2017 at the Palais Brongniart. Regional technology companies, top-tier media outlets, buyers and key industry influencers will come together at CES Unveiled Paris to get a direct look at the latest industry developments. The day kicks off with a CES news conference and CTA market trends presentation. Conference programming is followed by a tabletop exhibition & networking reception. Curated exhibitors will be there to showcase top tech from robotics and audio to smart home and augmented and virtual reality. Notable
Westinghouse Receives Regulatory Approval for Analysis Methodologies20.10.2017 15:15 | Tiedote
Westinghouse Electric Company today announced that it has received approval from the U.S. Nuclear Regulatory Commission (NRC) for two new important analysis methodologies that will be used to upgrade Westinghouse- and Combustion Engineering-based nuclear steam supply system (NSSS) safety analyses. The approvals granted are for the new FULL SPECTRUMTM Loss of Coolant Accident (FSLOCATM) methodology and the Performance Analysis and Design Model software code update, PAD5. FSLOCA is capable of improved modeling of the transient response in a pressurized water reactor to the full spectrum of LOCA break sizes that could occur, and PAD5 is the next generation of the Westinghouse fuel rod design performance code. “These codes were developed to work in concert with each other to maximize analytical margin for nuclear utilities,” said Michele DeWitt, senior vice preside
Gilead Announces Multiple Scientific Presentations Demonstrating High Cure Rates in Difficult-to-Cure HCV Patients and Improved Long-Term Bone and Renal Safety of Vemlidy® in HBV Patients Switched from Viread®20.10.2017 15:03 | Tiedote
Gilead Sciences, Inc. (NASDAQ: GILD) today announced results from Phase 2 and Phase 3 studies of its approved medicines for chronic hepatitis C virus (HCV) and hepatitis B virus (HBV) infection, adding to the body of evidence supporting Gilead’s viral hepatitis therapies in diverse patient populations. These and other data from more than 25 abstracts will be presented this week at The Liver Meeting® 2017, which begins today in Washington, D.C. Positive results from studies of Harvoni® (ledipasvir 90mg/sofosbuvir 400mg) in HCV-infected patients with severe renal impairment, Epclusa® (sofosbuvir 400mg/velpatasvir 100mg) in HCV-infected liver transplant recipients and Vosevi® (sofosbuvir 400mg/velpatasvir 100mg/voxilaprevir 100mg) in NS5A-inhibitor experienced HCV-infected patients will be presented during poster sessions on October 21 and October 22. In addition, updated results f
Schlumberger Announces Third-Quarter 2017 Results20.10.2017 14:00 | Tiedote
Schlumberger Limited (NYSE:SLB) today reported results for the third quarter of 2017. (Stated in millions, except per share amounts) Three Months Ended Change Sept. 30, 2017 Jun. 30, 2017 Sept. 30, 2016 Sequential Year-on-year
SP3H Announces That It Has Obtained a €1.2 Million European Union Grant for Its Intelligent and Clean Vehicle (VIP) Project20.10.2017 13:47 | Tiedote
SP3H is proud to announce joining the very select circle of the 10 French winners of the H2020 SME Instrument Phase 2 program since 2014. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171020005325/en/ Last summer VIP received the very prestigious SME instrument phase 2 H2020 label in the "transport & smart cities mobility" category. With an overall budget of € 1.7 million, VIP is subsidized by the European Union at a rate of 70% or €1.2 million. The framework contract was officially signed early October. VIP is the pre-industrialization program for Fuelbox sensors, the world's first miniaturized scanner capable of analyzing the quality of fuels on board vehicles. The heart of the program remains closely linked to the reduction of CO2 and pollutant emissions from vehicle
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme