Nigerian ID verification platform Smile Identity has acquired Appruve’s parent company, Inclusive Innovations, for an undisclosed amount. Smile Identity aims to expand its reach in Ghana and francophone Africa and gain access to Appruve’s APIs.
Facts
- Smile Identity has acquired Appruve’s parent company, Inclusive Innovations, for an undisclosed sum.
- Smile Identity provides ID verification solutions in Lagos, including document verification, face verification, biometrics, and data integrations with local ID authorities.
- Appruve leverages financial and identity data to detect fraud and automate compliance for African businesses.
- Smile Identity aims to expand its reach across Ghana and francophone Africa, focusing on Cote D’Ivoire and Senegal.
- The acquisition will allow Smile Identity to gain access to an expanded suite of APIs focusing on mobile money, data, and anti-fraud checks.
- Smile Identity recently raised $20 million in a Series B fundraise held in February.
- Smile Identity’s CEO, Mark Straub, believes the acquisition will enable the company to strengthen its understanding of KYC in Africa, including knowledge of the markets, relationships with regulators, and collaborations with compliance officers in both the public and private sectors.
