South Africa's Omnisient Raises $7.5M to Expand Privacy Tech Globally

BREAKING NEWSAugust 30, 2024 at 1:11 PM UTC

TLDR

Omnisient, a South African startup, secures $7.5 million in Series A funding for Africa and global expansion.
Founded in December 2019, Omnisient enables privacy-preserving data collaboration for commercial insights.
Investment from Arise to support Omnisient's expansion into UK, US, and Middle East markets.

Omnisient, a South African startup specializing in privacy-preserving data collaboration, has secured $7.5 million in Series A funding to fuel its expansion across Africa and into new markets globally.

Founded in December 2019, Omnisient offers a platform enabling data owners and users to collaborate to extract commercial insights without compromising consumer privacy. The technology allows data analysis within a controlled, secure environment.

The investment comes from Arise, an investment company focused on advancing financial inclusion by supporting African financial service providers and fintechs. This funding will enable Omnisient to expand its footprint to markets in the UK, the US, and the Middle East.

Key Takeaways

Omnisient's funding round highlights the growing importance of privacy-focused data solutions in financial services. The company’s expansion plans indicate a rising demand for secure data collaboration, especially in emerging markets. Omnisient is positioned to play a critical role in financial inclusion by protecting consumer data while enabling insights. Its technology empowers financial institutions to make informed decisions, particularly in underserved markets, where traditional credit assessments are challenging. The investment from Arise underscores a broader trend toward leveraging technology to improve access to financial services across Africa and beyond.

Venture Capital

Omnisient

Arise

South Africa

Fintech

Africa

Expansion

Startups

Consumer Privacy