Syntizen raises Pre-Series A funding from Mastercard, ACPL

Our Bureau Mumbai | Updated on September 17, 2019 Published on September 17, 2019

Syntizen Technologies, a Hyderabad-based digital identity solutions provider, has raised an undisclosed amount from global payments technology company Mastercard and biometric solutions provider ACPL in its Pre-Series A round.

The company intends to use the funds to strengthen its product offerings and for expansion purposes.

“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,” said Rajeev Kumar, Senior Vice President, Market Development, South Asia at Mastercard.

Syntizen Technologies was founded in 2014 by entrepreneurs Siddharth Kukatlapalli, Vamsi Kotte and Dinesh Desu and is a Software-as-a-Service (SAAS) startup. It offers digital identity solutions to regulated organisations and state governments in India.

Syntizen’s existing client portfolio includes NBFCs such as Muthoot Fincorp and Manappuram Finance, Housing Finance Companies such as Shriram Housing and India Shelters, and stock brokerage firms such as Motilal Oswal and Angel Broking.

Published on September 17, 2019
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