South African digital identity provider Contactable has secured $13.5 million in funding to support its continental expansion and advance its next-generation identity technologies. The round was led by Venture Capitalworks, with additional backing from Fireball Capital, Ke Nako Capital, and MAVOVO. The investment comes as Africa’s digital identity market gains momentum, projected to reach $3.4 billion by 2028.
Driving Financial and Social Inclusion
For millions of Africans without access to formal identification, digital identity represents the key to unlocking banking, telecommunications, and basic services. Contactable’s platform is designed to simplify and secure this access, acting as a single point of integration for onboarding, verification, fraud prevention, and compliance. By building scalable solutions, the company aims to bridge gaps in financial inclusion while driving growth across Africa’s digital economy.
Company Background and Growth
Founded in 2012 with early support from South Africa’s Technology Innovation Agency, Contactable has grown into a trusted partner for major enterprises across industries such as finance, telecoms, insurance, retail, motor finance, and payments. Its solutions provide enterprises with an integrated digital lifecycle for their customers, reducing complexity while enhancing security. Over the past decade, the firm has established itself as a cornerstone of digital identity infrastructure in the region.
Leadership Vision
“This investment marks a pivotal moment in our mission to democratise digital identity across Africa,” said Shaun Strydom, founder and CEO of Contactable. He explained that the new capital will help strengthen the company’s platform and extend its reach in line with customers’ evolving needs. According to Strydom, partnering with Venture Capitalworks and co-investors ensures the business can scale effectively while contributing to Africa’s growing digital infrastructure.
Investor Perspective
Venture Capitalworks’ investment reflects its strategy of backing regional leaders with proven management teams in high-growth sectors. “We believe Contactable is a regional leader in digital identity management, with a world-class founder driving its vision,” said Brent Shahim, Managing Partner at Venture Capitalworks. He emphasized that digital identity sits at the heart of financial inclusion and digital transformation, and the firm is committed to providing both capital and operational support to accelerate Contactable’s growth.
Future Expansion and Innovation
The funding will allow Contactable to strengthen its African footprint and pursue its product roadmap, which includes innovations in Ultimate Beneficial Ownership, artificial intelligence, self-sovereign identity, and payment integrations. These developments are expected to position the company at the intersection of technology, regulation, and inclusion. By expanding its capabilities, Contactable aims to deepen its partnerships and extend its solutions into underserved markets where secure digital identity is most needed.
Contactable’s $13.5 million raise underscores growing investor confidence in Africa’s digital identity ecosystem. With new backing from Venture Capitalworks and its co-investors, the company is poised to scale its presence, commercialize new technologies, and expand access to trusted identity solutions across the continent. As Africa accelerates toward a digital economy, Contactable is positioning itself as a key enabler of inclusion, trust, and growth.