Marshall Pribadi, CEO and Co-Founder of Privy
Jakarta-based digital signature and identity company Privy has secured US$48 million in a Series C funding round led by KKR.
Existing investors MDI Ventures, GGV Capital, Telkomsel Mitra Inovasi, and new investor Singtel Innov8 also participated.
Privy will use the capital to support the development of its new consumer and enterprise products. The company also intends to expand into overseas markets to accelerate growth further.
A year ago, Privy announced a US$17.5 million Series B funding round led by GGV Capital.
Also Read: PrivyID is Indonesia’s answer to DocuSign, and it just raised pre-Series A funding
Founded in 2016, Privy provides trusted digital identities and legally binding digital signatures. The company offers a wide range of services, including digital identity, digital signature, digital verification, and document management products and services in various sectors, including financial services, healthcare, and education.
In 2018, Privy became the first non-government institution to be licensed as a Certificate Authority (CA) by Indonesia’s Ministry of Communication and Information Technology. In 2019, it became the first electronic Know-Your-Customer service provider registered under Indonesia’s Financial Services Authority.
Today, Privy has more than 30 million verified users and 1,800 enterprise consumers for its digital signature, digital verification, and subscription products, and it processes more than 40 million digital signatures per year.
Louis Casey, KKR’s growth technology lead in Southeast Asia, said: “Privy has built an industry-leading platform that combines prime features, a user-friendly design, and secure and robust infrastructure. We look to leverage KKR’s global network and operational expertise to take Privy to its next level of growth and extend its leadership in digital trust for individuals and enterprises in Indonesia and beyond.”
Indonesia’s digital economy is projected to reach US$146 billion by 2025 and to become Southeast Asia’s largest digital economy, valued at more than US$300 billion by 2030.
—
Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.
The post KKR leads US$48M Series C round of Indonesian eKYC company Privy appeared first on e27.