FB pixel

iiDENTIFii secures $15M in funding to expand face biometric authentication across Africa

Categories Biometrics News  |  Trade Notes
iiDENTIFii secures $15M in funding to expand face biometric authentication across Africa
 

South Africa-based iiDENTIFii has secured 272 million South Africa Rand (approximately US$15.2 million) in a series A funding round to grow its face biometric authentication business.

The funding round was led by African investment company Arise, which is backed by Rabobank Partnerships, Norfund, NorFinance and FMO. Private equity firm Sanari Capital and U.S. tech entrepreneur Bill Spruill also participated in the round. It is the largest series A round by an African company in the identity verification space, writes TechFinancials.

iiDENTIFii counts the largest pan-African banks, insurance companies and mining firms among its customers for biometric authentication of users or employees.

“This investment validates our central business thesis that we are the preferred partner for enterprise-grade identity in Africa,” says iiDENTIFii Founder and CEO Gur Geva. “We’re excited to put the investment to work as we close in on our goal of authenticating every face in Africa. With this new funding and the networks of Arise, Sanari, and Bill – we confidently continue our mission of stopping identity theft in Africa.”

The company plans to use the funds to fuel its expansion across the continent.

“At Sanari, we place a strong emphasis on digital and human enablement to unlock business potential,” says Sihle Gumede of Sanari Capital. “iiDENTIFii is, therefore, a great addition to our investment portfolio and we look forward to being part of its ongoing growth journey. We are excited about co-creating a scalable and sustainable pan-African biometrics business.”

iiDENTIFii also joined the JSE Enterprise Accelerator Program earlier this year to help scale its operations.

Article Topics

 |   |   |   |   |   |   |   |   | 

Latest Biometrics News

 

IDNow, Microblink, Smartsearch look for market growth with key hires

IDNow, Microblink, and Smartsearch have each made key leadership announcements. Ranging from the C-suite, to global sales and regional expansion,…

 

Okta warns of trust gaps as AI agent deployments grow

As the deployment of AI agents keeps increasing across sectors, there are concerns about whether they are trusted by users…

 

Biometrics disrupting the future of movement, on and offline

Biometrics are disrupting different areas of life, from how people interact with governments for basic services to the esoteric world…

 

Alexa, sue Amazon: tech giant faces class action over voice recordings

Users of Amazon’s Alexa are clear to pursue a class action over allegedly illegal recordings of private conversations. In Seattle,…

 

Epic Games provides Yoti facial age estimation to Bluesky for UK users

Social media platform Bluesky has selected Epic Games’ software, including biometrics-based age estimation from Yoti, to ensure its compliance with…

 

RealSense targets robotics, 3D facial recognition security with $50M in hand

RealSense has cut the cord tying it to Intel Corp, where the 3D camera company was born, with $50 million…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Biometric Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events