iiDENTIFii, Biometric Authentication Platform Secures $15 Million for Pan-African Expansion

A South African-based automated platform called iiDENTIFii has raised $15 million in growth capital to offer a remote digital biometric identification authentication method.

African investment firm Arise, whose founding investors include Rabobank Partnerships, Norfund, NorFinance, and FMO, led the round. The size of this Series A in the African identity verification market is the largest to date.

Gur Geva, the founder and CEO of iiDENTIFii, says, “I’m tremendously proud of our technical team and our success as a company over the past three years. “This investment supports our core business tenet, which is that we are Africa’s go-to provider of enterprise-grade identity. As we get closer to achieving our objective of authenticating every face in Africa, we’re eager to put the investment to use. We boldly continue our mission to eradicate identity theft in Africa with the help of this additional funding and the networks of Arise, Sanari, and Bill.

With the help of this financing, iiDENTIFii plans to expand throughout Africa. The continent is increasingly at risk from financial sector cybercrime.

Financial services and banking apps that process sensitive financial information are particularly vulnerable to the negative effects of attackers using security flaws.

The pioneer in biometric identification is iiDENTIFii. Users are quickly and securely authenticated using their PCs or smartphones thanks to the company’s cutting-edge facial authentication technology. The top pan-African banks, insurers, and mining companies use iiDENTIFii to authenticate customers and employees across a variety of industry verticals.

Standard Bank, ABSA Bank, and Investec Bank are a few of its clients. Growth-stage private equity firm Sanari Capital and seasoned US software entrepreneur Bill Spruill are among investors in the round in addition to Arise.

The solution from iiDENTIFii is an essential component of financial inclusion, digital inclusion, and identity inclusion on the continent since it uses biometric authentication to protect access to this sensitive financial information.

According to Arise CEO Gavin Tipper, this investment “complements Arise’s portfolio of bank investments across Sub-Saharan Africa and marks our debut into the African fintech industry.” “We are thrilled about our cooperation with iiDENTIFii, which will enable us to provide their cutting-edge technology to banks in Sub-Saharan Africa, boosting digital anti-money laundering procedures and advancing financial inclusion,” says the company.

According to Sihle Gumede of Sanari Capital, “At Sanari, we lay a heavy emphasis on technology and human enablement to unlock corporate potential.” Therefore, iiDENTIFii is a fantastic addition to our investment portfolio, and we look forward to participating in its ongoing growth. We are eager to collaborate in the creation of a scalable and long-lasting pan-African biometrics enterprise.

Bill Spruill adds, “As an investor and entrepreneur, I’ve had a lot of experience with disruptive technology.” “I am eager to witness the impact that the work being done by iiDENTIFii will have on the African continent.”

In November 2022, in Lisbon, Portugal, iiDENTIFii will compete for the worldwide championship after recently winning KPMG’s Tech Innovator in Africa award. It has previously received honors such as Microsoft Independent Software Vendor (ISV) Partner of the Year and MTN App of the Year, among others.