Smile Identity acquires Appruve to expand across Africa
Nigerian ID verification platform Smile Identity has acquired Ghanaian ID verification fintech Appruve’s parent firm, Inclusive Innovations, for an undisclosed sum.
Smile Identity acquires Appruve
Founded in 2016 and based in Lagos, Smile Identity provides ID verification solutions including document verification, face verification, biometrics and data integrations with local ID authorities. Appruve has been operational since 2018 and leverages financial and identity data to detect fraud and automate compliance for African businesses.
With the acquisition, Smile Identity aims to expand its reach across Ghana and francophone Africa, with a focus on Cote D’Ivoire and Senegal. It will also gain access to an expanded suite of APIs focusing on mobile money, data and anti-fraud checks. Smile Identity claims this will enable it to provide customers with a “smoother and more efficient” ID verification process.
“With this acquisition, we can strengthen our overall understanding of the direction of KYC in Africa,” says Mark Straub, CEO of Smile Identity. “This includes our knowledge of the markets, our relationships with regulators, and our collaborations with compliance officers across the continent in both the public and private sectors.”
The acquisition follows Smile Identity’s recent $20 million Series B fundraise held in February.
