back Back

Data Zoo bags $22.7m in Series A from Ellerston JAADE to fuel global expansion

By Gloria Mathias

May 23, 2024

  • Australia
  • Banks
  • Data Zoo
Share

Data Zoo, Indentity Platform, KYC Solutions, Australia, Payments, Financial Institutions, Banks, FinTechs Data Zoo, a provider of global identity verification solutions, has raised approximately $22.7 million (AUD $35m) in Series A funding from Ellerston JAADE, an Ellerston Capital fund.

The raise will help Data Zoo drive the adoption of its identity verification software. This software provides direct access to authoritative data from over 170 countries, features advanced data sequencing to improve efficiency and maximize conversions, and prioritizes data protection and privacy by eliminating identity data storage.

Data Zoo’s vision is to provide a global, efficient, and secure alternative to legacy solutions while enhancing KYC/KYB compliance and fraud prevention. As part of the raise, Data Zoo, which is trusted by financial institutions and payment providers, plans to continue to expand its operations globally.

“There’s been a long-standing need for a more efficient and secure way to verify identities. Data Zoo has spent years refining its solution; the result has been incredible innovation, UX optimization, and growth in a fiercely competitive market, putting us head-to-head with today’s most established identity providers,” said Tony Fitzgibbon, Founder and Chairman of Data Zoo. “Ellerston JAADE spotted an opportunity in Data Zoo’s proven ability to help global firms verify consumer and business identities, reduce fraud, and meet global compliance standards.”

“Data Zoo is well-positioned to expand its footprint because of its patented ability to efficiently onboard a more diverse and global set of customers, meet compliance standards across jurisdictions, and enhance data privacy and protection,” said Charlie Minutella, Chief Executive Officer at Data Zoo. “The investment from Ellerston JAADE will supercharge our capacity to operate in key markets, attract new business, and enter new strategic partnerships.”

“Data Zoo’s innovative platform and success in expanding its operations internationally, especially into challenging markets like North America, were key factors in our decision to invest,” said David Leslie, Investment Director at Ellerston JAADE. “Data Zoo’s impressive growth, solidifying itself as a trusted identity provider against well-established competitors—all without prior funding—is no small feat. We are pleased to support them as they continue to scale in the identity verification industry.”

Previous Article

May 23, 2024

myTU launches Payouts API for businesses

Read More
Next Article

May 23, 2024

Zurich Insurance partners with BOXX to develop cyber risk solution

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

Australia

Why predictive AI is a critical necessity in the field of cybersecurity

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

First Abu Dhabi Bank bolsters CLM operations with Fenergo

Read More

Today

Xcelerate acquires an equity stake in Gieom, a financial service compliance provider

Read More

Today

Sumsub & Finastra team to strengthen Banking sector compliance

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023