The funding is a follow-up to the one PrivyID has announced last year, also by Telkomsel Mitra Inovasi (TMI)

Digital identity provider from Indonesia PrivyID announces a Series A+ funding from Telkomsel Mitra Inovasi (TMI). The number of funding is not disclosed, DailySocial reported.

Previously, PrivyID has raised Pre-Series A funding led by MDI Ventures and Mandiri Capital Indonesia back in 2017. Gunung Sewu and Mahanusa Capital were also involved in the funding.

CEO of PrivyID Marshall Pribadi confirmed that the partnership will integrate PrivyID’s technology into Telkomsel’s platform. The platform, the company notes, aims to disrupt the identity verification service market with an effective medium for consumers.

“Aside from getting the basis of essential knowledge, we also will access the network of connection that the industry requires. With the partnership, we’re optimistic about having the financial inclusion and opening up digital economy potential in Indonesia,” Pribadi said.

Also Read: PrivyID is Indonesia’s answer to DocuSign, and it just raised pre-Series A funding

Some tech features that will be made available, Pribadi mentioned, include AI-based document checker, liveness detection, facial recognition, encryption infrastructure, and smart authentication gateway.

The service will provide security through a credit evaluation algorithm, combined with other methods such as digital signature and verified identity card to process users within minutes. The result of product integration is believed to accelerate financial inclusion in Indonesia.

“By having PrivyID as the collaborators Telkomsel’s product, asset, and resources, a potential innovation will emerge in the future,” said CEO of TMI, Andi Kristianto.

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Image Credit: Kelly Sikkema on Unsplash

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