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South Africa’s Entersekt secures investment from America. 2 other things and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today.

1. South Africa’s Entersekt secures investment from America

Entersekt, South African fintech, has announced securing investment from US-based private equity firm Accel-KKR.

The startup claims to have developed technology that protects millions of financial services for customers across the world.

The new raiser is expected to accelerate the startup’s roadmap and fuel expansion into new markets.

Entersekt, which has its headquarters in Cape Town, is an innovator in the global authentication market.

Recently, the startup recorded its market and industry firsts including a Europe-first payment authentication solution based on the FIDO standard, and a world-first implementation of an AI-powered 3-D Secure solution currently making rapid progress at a renowned bank.

Speaking on the development, Schalk Nolte, Entersekt CEO, expressed his excitement as the startup seeks to unfold new stream of innovations.

Schalk Nolte said: “We are very excited to have Accel-KKR on board. The industry is experiencing a wave of innovation in areas like omnichannel and passwordless authentication, 3-D Secure and open banking, all of which are strategic focus areas for Entersekt. The investment from Accel-KKR will help us scale our business to reach more organisations across more regions with our cloud-first solutions.”

“Providing frictionless user experiences and allowing organisations to customize their user journeys around their specific needs is a very important part of our value proposition. It brings to life our vision of bridging the gap between identity, authentication and payments.”

Tech Trivia: Encryption is used for what purpose?

A To compress data before it is transmitted
B To encode text files as binary data
C To scramble information for security reasons
D To archive data for backup purposes

Answer: See end of post

READ ALSO: Nigeria’s fintech startup, OnePipe, closes $3.5m seed round. 1 other thing and a trivia

2. Google upgrades Gmail’s ‘Undo Send’ feature

Tech giant, Google has rolled out an update to Gmail’s “Undo Send” feature for web and iOS users.

The new update will help users recall emails using different time frames.

Recall that before now, Google’s “Undo Send” feature allows users only to recall emails within a standard 5-second window frame.

With the new upgrade, however, users now have an increased time duration, from 5 seconds to 10, 20, or even 30 seconds.

Google, via a Facebook post, explained that users can now throwaway the fear of sending emails by mistakes.

Google said: “We’re rewriting the 5-second rule. Now un-send any email within 5, 10, 20 or 30 seconds with the ‘Undo Send’ feature on Gmail.

“Now, with this 30 seconds window frame, you can easily say goodbye to those weirdly mistaken emails sent to/by your colleagues.”

3. Inrupt raises $30 million in Series A financing round

Inrupt, a Tim Berners-Lee’s startup, Inrupt, has raised $30 million in a Series A financing round.

According to local sources, Forte Ventures led Inrupt’s new round.

While other details of the deal is not currently clear, the round was said to have seen the participation of “all existing investors,” including Akamai Technologies and Glasswing Ventures, as well as new investors Allstate and the Minderoo Foundation’s Frontier Technology Initiative.

The startup was founded by the creator of the standards of the world wide web, Berners-Lee, and technologist

Speaking on the news of the raiser, John Bruce, explained about challenges that comes with running a tech venture.

John Bruce said: “Business transformation is hampered by different parts of one’s life being managed by different silos, each of which looks after one vertical slice of life.

“Meanwhile, that data is exploited by the silo in question, leading to increasing, very reasonable, public skepticism about how personal data is being misused.”

Trivia Answer: Encryption

Encryption is the process of converting data to an unrecognizable or “encrypted” form. It is commonly used to protect sensitive information so that only authorized parties can view it. This includes files and storage devices, as well as data transferred over wireless networks and the Internet.

You can encrypt a file, folder, or an entire volume using a file encryption utility such as GnuPG or AxCrypt. Some file compression programs like Stuffit Deluxe and 7-Zip can also encrypt files. Even common programs like Adobe Acrobat and Intuit TurboTax allow you to save password-protected files, which are saved in an encrypted format.

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