Digital identity provider V-Key secures strategic investment

Tower Capital Asia has become the new majority investor in Singapore-based digital identity and mobile application protection provider V-Key, in a strategic deal aimed at accelerating product innovation and regional growth, according to Biometric Update.

The investment amount was not disclosed. V-Key provides an end-to-end platform used by banks, fintechs, and enterprises across Asia-Pacific for secure user onboarding, authentication, and mobile application protection. Tower Capital Asia CEO Danny Koh stated that "secure digital identity has become foundational" and that V-Key's robust platform has a "strong track record in highly regulated environments."

The partnership will focus on strengthening V-Key's regional presence and deepening relationships with financial institutions. V-Key co-founder and CEO Joseph Gan emphasized the goal of enhancing unified digital identity and mobile security capabilities so clients can deploy "confidently with speed and scale."

V-Key's V-OS virtual secure element is deployed on over 500 million devices, and its V-OS FIDO2 Server achieved FIDO Alliance certification in December. The company also recently received a USPTO patent for app-based mutual trust technology, and it integrated ZeroBiometrics software in early 2024 for privacy-preserving biometric authentication.