Seamfix, a Nigerian startup that offers services in identity management, was boosted by a US$ 4.5 million private equity fund from Alitheia IDF – money that will facilitate their expansion plans to other African countries.
- Seamfix has a wide range of clients who seek their services, ranging from government agencies such as the Nigeria’s National Identity Management Commission (NIMC), to telecommunication companies like Airtel, Glo, and MTN.
- The startup plans to expand its services to Ghana, South Africa, Ethiopia, Kenya, and Uganda – countries that are already digitizing crucial services and therefore, need top-notch identity management services.
- The funding from Alitheia IDF was part of its US$ 100 million kitty that invests in gender-diverse businesses and startups across the continent, empowering crucial solutions that would uplift marginalized groups.
“This is particularly pertinent, when you consider that studies show that low-income women in emerging economies are less likely to have a digital ID, which further hinders their ability to participate in economic value creation and access opportunities,” said Tokunboh Ishmael, principal partner at Alitheia IDF.
Digital identification has the ability to broaden access to services that were impossible or hectic to attain when physical identification was the norm. According to a recent McKinsey report, this boom in service delivery can ramp the GDP of African countries by 6%, and unlock 70% of Africa’s economic potential.
“We are thrilled to announce this new funding, which marks a significant milestone in our journey of shaping the future of digital ID verification in Africa and connecting Africa to the rest of the world. Digital identity is a right – not a privilege – and this belief underpins our innovation and commitment to enabling individuals and businesses in Africa to access all the benefits that come with having verifiable identities,” said co-founder of Seamfix, Chimezie Emewelu.
Seamfix was founded in 2007 by Chimezie Emewelu and Chibuzor Onwurah, and envisions a continental central base for handling identities in Africa. This will be a bold step towards regional integration, tariff elimination, smothering of bank fraud, and seamless company expansion.
“This investment not only validates our vision but also empowers us to expand our reach and innovate further. We are thankful for the support from Alitheia IDF and their commitment to our mission, and we are excited to lead the charge in shaping a digitally inclusive Africa,” said Emewelu.
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