Mastercard and ACPL has invested an undisclosed amount as part of Pre-Series A funding round in digital identity solutions provider Syntizen Technologies.
The platform will use the funding to strengthen its product offerings, as well as, drive aggressive expansion in India and across the world.
It will also help catalyse adoption of its business solutions.
The startup said that this will be done by reinforcement of its core product offerings for digital identity check, talent acquisition, and further enhancement of electronic customer on-boarding platform.
Vamsi Kotte, Co-founder and CEO, Syntizen, said, “We are extremely happy to be funded by Mastercard and ACPL. This partnership will help us penetrate much faster in digital identity solutions business as well as the global market. Our simple and secure digital identity check process helps companies to validate and verify a customer instantly for service delivery. On the other side, our time and attendance-based subsidy management systems enable governments to save crores of rupees every year. With this partnership, we envision to add more value to this platform, its solutions, and above all, our clientele’s processes.”
Syntizen Technologies was founded by Siddharth Kukatlapalli, Vamsi Kotte, and Dinesh Desu in 2014. It offers digital identity solutions to regulated organisations and state governments in India by leveraging its proprietary Aadhaar-based solution.
The platform also offers a digital affiliation solution, which allows any institution (school or college) to get affiliation digitally from any university.
Rajeev Kumar, Senior Vice President, Market Development, South Asia, Mastercard, added, “Mastercard’s investment in Syntizen is part of the organisation’s commitment to foster India’s startup ecosystem and the fintech revolution, through both partnerships and capital infusion. Syntizen has exhibited a unique ability to develop meaningful technology solutions from its industry knowledge and on-ground initiatives. Mastercard is proud to help Syntizen scale up and achieve success in the market.”