Omnisient Raises $7.5M to Accelerate the Global Adoption of Its Privacy-by-Design Platform

South African startup Omnisient, a leader in "privacy-by-design" technology, has raised $7.5 million in a Series A funding round to support its expansion in Africa and beyond. Founded in December 2019, Omnisient has developed an advanced platform that allows companies to gain valuable commercial insights from consumer data without compromising privacy. This platform, which currently protects the profiles of 160 million consumers, is instrumental in helping underbanked individuals access vital financial services such as loans and insurance by improving credit risk assessments through consumer shopping behavior data.

The funding was secured from Arise, an investment firm focused on advancing financial inclusion in Africa by supporting financial service providers and fintech startups. This investment will help Omnisient introduce its technology to new markets, including the United Kingdom, the United States, and the Middle East.

Omnisient's co-founder, Jon Jacobson, highlighted the company's mission to build the world's largest repository of alternative consumer data to promote financial inclusion. He noted that the investment from Arise would enable the company to scale and forge partnerships with major data providers, further advancing their goals.

Source: Tapiwa Matthew Mutisi / Innovation Village