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Smile Identity lands $20M Series B for pan-African expansion

Smile Identity lands $20M Series B for pan-African expansion

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#digital economy
Africa's leading KYC onboarding and identity verification platform, Smile Identity has secured a $20 million Series B to grow its team and expand its offering across Africa.

Smile Identity, a pan-African company that provides identity verification and KYC (know your customer) services, has raised $20 million in a Series B funding round. The investment was led by Costanoa Ventures and ValueStream Ventures, with participation from Core Innovation Capital, Future Africa, LocalGlobe, Intercept Ventures, and others. Smile Identity plans to use the funding to expand its services across Africa, where it currently operates in Nigeria, South Africa, and Kenya. The company's platform uses AI and facial recognition technology to verify users' identities for businesses and financial institutions. Smile Identity aims to improve access to financial services and e-commerce for millions of people who lack formal identification documents in Africa.


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