Smile Identity Raises $7M in Series A Funding
Summary
Smile Identity, a Lagos, Nigeria-based company focused on ID verification and KYC compliance through Artificial Intelligence, raised $7M in Series A Funding. To standardize identity verification across the continent and provide a single solution for a new generation of African companies, Smile Identity works with local ID authorities and has built a platform that combines ID validation with proprietary face verification and liveness checks to support non-surveillance, consent-based access and financial inclusion. The company performs over 1 million identity checks every month across Africa and its software is used in banking, fintech, ride sharing, worker verification, public social welfare programs, and telecommunications. Customers include payments companies like Paystack, Paga and Chippercash; neo-banks like Kudabank and Umba; traditional banks like Stanbic IBTC; cryptocurrency exchanges like Binance, Luno, and Paxful; and supply-chain businesses like Twiga. With subsidiaries, branch offices and engineers in Nigeria, Kenya, South Africa, Ghana, Rwanda, Uganda and counting, Smile Identity’s team is made up of people from 12 countries, including 8 African nations.
Funding
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