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December 21, 2023

Digital ID and Decentralized ID (DID) Projects in Africa II: Startup Companies

Digital ID and Decentralized ID (DID) Projects in Africa II: Startup Companies

Thank you for visiting our blog post! 🦐🎗️

Let's check out the exciting world of African startup companies that are shaping the future of digital identification! 🌍✨

Blog posts related to this post:
Download Full Report: Effect of Digital ID and Role of Decentralized ID (DID) in Africa
Digital ID and DID Projects in Africa I: Telecom Companies
Digital ID and DID Projects in Africa III: International Organizations and NPOs

Hope you enjoy reading the articles 😌🍓

Digital ID & DID African Startups

In a region characterized by diverse challenges, including limited access to traditional identification methods, startups are leveraging emerging technologies such as biometrics, mobile applications, and blockchain to provide secure and inclusive digital ID solutions.

Below is the list of African startup companies working on digital identification solutions. Note that the companies listed below are selected by their presence in the African digital identity space based on our own research. Tech & Service information is gathered from their websites and docs available online. Fund information is from publicly available data including Crunchbase.

1. BACE Group (Ghana)

Website: BACE Group

Year Founded: 2018

Tech & Service: No blockchain use. ID verification as a service through BACE API. Leveraging face recognition, liveness test etc., it provides onboarding, ID verification, ID validation, ID search, fraud detection, and data extraction services.

Fund: Raised $100k from Meltwater Entrepreneurial School of Technology (MEST) in their pre-seed round in 2018. Granted non-equity assistance from UNICEF StartUp Labs in 2021.

2. DIDx (South Africa)

Website: DIDx

Year Founded: 2019

Tech & Service: Self Sovereign Identity (SSI) on top of blockchain. Services include digital identity solution development, research and framework development, thought leadership, and workshops.

Fund: Raised $500k from Imvelo Ventures, OneVault and LSD capital in a pre-seed round in 2023.

2. Digified (Egypt)

Website: Digified

Year Founded: 2018

Tech & Service: No blockchain use. Digital identity verification technologies based on machine learning and authenticating data with government databases. Services include Arabic e-KYC, documents digitization, face matching and anti-spoofing etc.

Fund: Raised $28k from EFG EV Fintech in their pre-seed round in 2019.

3. FlexID (Zimbabwe)

Website: FlexID

Year Founded: 2018

Tech & Service: Combination of Self Sovereign Identity (SSI), blockchain, and AI technologies. A platform and wallet for the issuance, storage, and sharing of verified digital identity credentials using Algorand blockchain.

Fund: Awarded grant from Algorand Foundation in 2022.

4. identitypass (Nigeria)

Website: identitypass

Year Founded: 2021

Tech & Service:No blockchain use. Data verification for government issued ID in Rwanda, Uganda, Nigeria, Ghana, Kenya, South Africa and Sierra Leone. Biometric authentication through fingerprint, facial, and iris recognitions. Service also includes activity monitoring and assessment of customers.

Fund: Raised $360k in their pre-seed round in 2021. Raised $2.9M from Y Combinator, MaC Venture Capital, and other investors in their seed round in 2022.

5. iiDENTIFii (South Africa)

Website: iiDENTIFii

Year founded: 2018

Tech & Service: No blockchain use. Advanced face authentication technology. iiDENTIFii is used by the largest pan-African banks, insurers and mining houses for both customer and employee authentication.

Fund: Raised $15M from African investment company Arise, growth-stage private equity firm Sanari Capital and veteran US tech entrepreneur Bill Spruill in their Series A round in 2022.

6. Smile ID (Nigeria)

Website: Smile ID

Year founded: 2017

Tech & Service: No blockchain use. Services include document verification, AML check, government check, and biometric authentication. Access 3 or more ID types in most African countries, and reliably verify users using any device in low-bandwidth environments.

Fund: Funded by 500 Global etc. including a $100k grant by Catalyst Fund in their pre-seed round in 2017. Raised $4M from valU etc. in seed round in 2019. Followed by $7M of Series A from Costanoa Ventures, CRE Venture Capital and other investors in 2021. In 2023, smile ID successfully raised $20M from Costanoa Ventures, Norrsken22 and other investors in their Series B round.

7. ThisisMe (South Africa)

Website: ThisisMe

Year founded: 2013

Tech & Service: No blockchain use. Services include e-KYC, automated digital onboarding, identity verification, facial biometric verification, risk assessment, information validation, and large data processing.

Fund: Raised $2.5M in their venture round in 2016.

8. Uqudo (UK)

Website: Uqudo

Year founded: 2018

Tech & Service: No blockchain Use. Digital identity company in the Middle East and Africa. Services cover digital KYC and verification including facial recognition, AML and sanction, KYB, legitimate and safe authentication through biometrics etc.

Fund: Granted non-equity assistance from Village Capital in 2023.

9. VerifyMe (Nigeria)

Website: VerifyMe

Year founded: 2013

Tech & Service: No blockchain Use. Use cases include customer onboarding, contactless account opening, employment verification, liveness detection, KYC, address verification, and guarantor verification. Engage-to-earn Verifyme agents build Africa's biggest last mile verification network.

Fund: Funded by Consonance Investment Managers in their Series A round in 2020.

10. Youverify (Nigeria)

Website: Youverify

Year founded: 2017

Tech & Service: No blockchain use. Provide AI-powered risk intelligence solutions, Know Your Transaction (KYT), KYB, Know Your Employee (KYE), KYC, no-code workflow automation tool etc. Use cases span from finance, trading, marketplace, to gaming and casino.

Fund: Raised $350k from VilCap Investments etc. in their seed round in 2018. Followed by $1.5M from Orange Ventures and other investors in 2020. Most recently raised $1M from LoftyInc Capital Management, Orange Ventures and other investors in their seed round in 2022.

Thank you very much for reading this post 🎃🕸️

For downloading the full report, visit this page.

Follow EMURGO Africa for more information

EMURGO Africa invests and supports local Web3 projects in the region to adopt Cardano’s decentralized blockchain technology to build socially impactful solutions.

As a regional entity of EMURGO, the official commercial arm of Cardano, EMURGO Africa also runs a local Cardano accelerator in Africa, Adaverse, which accepts applications year-round.

For more up-to-date information on EMURGO Africa, follow the official channels listed below.

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