Smile Identity, a company that provides ID verification and KYC compliance for African faces and identities, has announced today that it has closed a USD 7 Mn Series A fundraising round.
Costanoa Ventures and CRE Venture Capital, a pan-African venture capital firm, co-led the investment. LocalGlobe, Intercept Ventures, Future Africa, and unknown angel investors were among the other investors who took part. Existing investors, including Khosla Impact, ValueStream Ventures, Beta Ventures, 500 Startups, and Story Ventures, also participated.
Smile Identity intends to use the new funding to strengthen its services, expand into new markets, extend support for more ID kinds, and hire more engineers and support personnel throughout Africa.