Nigeria-based digital identity provider Seamfix has announced plans to expand its digital identity infrastructure and services across the African continent with a $4.5 million investment provided by Alitheia IDF Fund through a round of equity financing.
Alithea IDF Fund is a $100 million private equity fund co-founded by Tokunboh Ismael and Polo Leteka to support marginalized founders.
The investment will allow the company to not only expand its infrastructure, but also enable the seamless flow of data for continental trade and introduce its digital identity and credential services in five new countries, it said in a press release.
“We are excited to announce this new funding, which marks an important milestone in our journey to shape the future of digital identity verification in Africa and connect Africa to the rest of the world. Digital identity is a right – not a privilege – and this belief underpins our innovation and commitment to enable individuals and businesses in Africa to access all the benefits that come from having verifiable identities,” says the CEO and co-founder of Seamfix Group Chimezie Emewulu.
“This investment not only validates our vision, but also enables us to expand our reach and innovate further. We are grateful for Alitheia IDF’s support and commitment to our mission and are excited to lead the way in shaping a digitally inclusive Africa.”
Already, the company provides identity verification and transaction accreditation for large organizations in Nigeria and several other African countries, and the latest round of funding will help scale these services to new destinations including Ethiopia, Ghana, Kenya, Uganda and South Africa.
Seamfix has been a partner of the Nigerian National Identity Management Commission (NIMC) in the implementation of its digital identity programme, as well as among other banks, universities and mobile operators. Last year, the company announced that it was expanding its partnership with MTN to enroll biometric SIM cards in five new African countries.
The Seamfix news release also announces the appointment of two new board members, Alitheia Co-Founder Tokunboh Ismael and Seamfix COO Frank Atube. The company hopes the pair has what it takes to help achieve its growth and market goals.
Article topics
Africa | biometric | digital identity | financing | identity verification | investment | Seamfix