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Investors pile on $3M more for Signzy biometric video KYC and platform expansion

Categories Biometrics News  |  Trade Notes
Investors pile on $3M more for Signzy biometric video KYC and platform expansion

Signzy has raised an additional $3 million from Vertex Ventures as part of its recently-announced fundraising round, to reach a total of $8.4 million.

The no-code AI platform provider has been on a fundraising hot-streak since partnering with Mastercard to offer its biometric video KYC solution, and Mastercard also contributed part of the round’s initial $5.4 million. Existing investors Kalaari Capital and Stellaris Venture Partners also participated in the latest funding round.

According to Crunchbase the funds are being raised in a Venture round following a Series A round in 2018.

Signzy intends to invest the funds in strengthening its platform and expanding its global sales team. The company’s product team, made up of more than 120 people, is based in Bangalore, and plans to build its AI platform to meet the needs of the financial services industry amid rapid change, according to the company announcement.

“Signzy has built a differentiated expertise in AI within a short period,” states Vertex Ventures Partner Piyush Kharbanda. “Signzy team has executed an ambitious global strategy with great success so far. We are thrilled to back this exceptional team as they build the next generation AI platform for financial services.”

“We are glad to receive such tremendous support from our investors, and their faith and trust in us is a great encouragement for the entire Signzy team to double down on executing the next phase of our growth strategy,” says Signzy Co-founder Ankit Ratan.

Signzy also appointed Arun Rajkumar as its new VP of Technology in November, months after announcing intentions to hire close to 70 people over a six-month period.

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