JAKARTA - PrivyID, a regulatory startup that facilitates the verification of prospective consumers managed to obtain A2 series funding from Telkomsel Mitra Inovasi (TMI) through MDI Ventures.

Established in 2016, PrivyID is certified by the Ministry of Communication and Information to receive registration, verify, issue electronic certificates and electronic signatures to the public.

TMI CEO Andi Kristianto explained, "PrivyID's application program interface (API) and workflow product technology presents an effective and efficient operational process for its users. PrivyID services are now in a position to grow significantly, which at the same time accelerates financial inclusion. PrivyID's collaboration with products, assets and resources from Telkomsel, will present many interesting innovations in this field in the next few years."

PrivyID is now used by more than 4.5 million people and more than 200 institutions, including Telkom Group, BRI, Mandiri, Investree, BCA Finance and Adira Finance. (LM)