- Bahrain-based AI startup Faceki, has raised an undisclosed Seed round from Bahraini business angel network Tenmou.
- Founded in 2020 by Hamza Al Ghatam, Mustafa Marhama and Nabeel Radhi, Faceki specialises in AI-powered digital identity verification, know-your-customer (KYC), digital onboarding and biometric facial authentication.
- The new funding will help Faceki accelerate technology innovation, and reach new markets globally.
Source: Startup MGZN
Tenmou, Bahrain’s first Business Angels Company, which provides both mentorship and capital to high-potential, innovative Bahraini entrepreneurs from the seed stage, announced its investment in Faceki.
Faceki is a Bahraini startup specialising in AI-powered Digital Identity Verification, Know-Your-Customer (KYC), Digital onboarding and Biometric Facial Authentication. Serving customers from more than 110 countries worldwide. Focusing on simplifying users’ journeys and fighting fraud to create safer, more accessible user experiences.
The platform uses AI and machine learning to power its certified liveness and anti-spoofing detection technology which help verify if the users really are who they claim to be. Protecting customers and enterprises, and reducing onboarding process time and cost by up to 95%.
Tenmou emphasises the support and mentoring provided by its Angel shareholders, all of whom are established businessmen and successful entrepreneurs, whereas it has invested in 27 startups and created over $100 million in follow-on funding.
The company stresses that the aim of this investment is to support Bahrain’s goal to be the leading digital economy in the region.
Commenting on this occasion, Tenmou CEO Mr Nawaf Al Kooheji, said: “We’re very proud in investing in local AI platform that allows many other startups and even government entities to stop relying on different devices to provide biometric solutions to customers.”
“Faceki unifies user experience cross-devices and cross-platform capabilities. It ensures a smooth user experience over the board. We in Tenmou, encourage all AI startups which follow Bahrain’s plans for digital transformation, regulatory framework, and digital infrastructure development.”
He noted that Bahrain has created a digital ecosystem that makes business more efficient and competitive, with the essential support for a smooth digital transformation at the national level.
Mr Al Kooheji pointed out the Kingdom ranked 4th in the Arab digital economy report 2020 and ranked 3rd among Arab states and 40th globally in the 2021 “Heritage” index of economic freedom and it is now the leading country in the region in financial technology fintech.
“We aspire to provide a more convenient and frictionless verification solution to help make customer onboarding experience simple, safe and more secure.” Said Hamza Al-Ghatam, Co-founder and CEO of FACEKI. “We are delighted to have Tenmou as an investor and a partner, with the aim to help us accelerate technology innovation, and reach new markets globally.”
It is worth noting that Faceki has won Globee Excellence Award for Artificial Intelligence Award in Security this year.