Identity verification platform, iiDENTIFii has secured a $15 million Series A funding round. It was led by African investment company, Arise Investment, with Sanari Capital and angel investor Bill Spruill.
The biometric company will use the investment to fund its expansion across Africa.
Speaking on the funding, founder and CEO iiDENTIFii, Gur Geva said,
“We’re excited to put the investment to work as we close in on our goal of authenticating every face in Africa.”
For the fundraising to be a success, iiDENTIFii partnered with Arise Investment.
“Our partnership with iiDENTIFii will allow us to offer their unique technology to banks in Sub-Saharan Africa, strengthening digital anti-money laundering practices and advancing financial inclusion,” CEO of Arise Investment, Gavin Tipper said.
iiDENTIFii was launched in 2018 with its headquarters in Cape Town.
Its biometric authentication system allows identity verification through cell phones and computers. The feature is used by businesses for customer and employee authentication.
It won the recent KPMG Private Enterprise Tech Innovator in Africa Award 2022.
What iiDENTIFii will Use the Money For
The company’s partners include Standard Bank, Absa and Investec Bank. It will use the investment to fund its expansion across Africa and the world at large.
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