Tech

Nigeria’s digital security startup Prembly announces merger with Kenya’s Peleza

Published

3 months ago

July 4, 2024

Nigeria’s digital security startup, Prembly Group, has announced a strategic merger with Kenya’s security firm, Peleza, with the aim of creating a combined entity and a robust data infrastructure and compliance solutions company that will serve emerging markets in Africa.

While Prembly which was founded in 2021 has quickly become a key player in the digital security and infrastructure space, serving enterprises and global companies, Peleza is one of East Africa’s most prominent background checks and KYB companies, and the merger will help the firms expand into emerging markets and position the continent as the next hub for growth.

Lanre Ogungbe, founder and CEO of Prembly, who made the announcement in a statement, said Peleza has developed AI-powered solutions that offer KYC, KYB, and background checks “Solutions for Instant” and seamless Identity verification, background checks, and business onboarding to the entire client lifecycle and user-based management.

Ogungbe added that the merger of the two companies will make the new combined entity the “most robust data infrastructure and compliance solutions company serving emerging markets.”

“The merger with Peleza deepens our industry knowledge and elevates our strengths and technologies, empowering us to exceed our clients’ expectations worldwide,” Ogungbe said.

“Operating under a unified brand as Prembly Group, this strategic alliance will leverage synergies to enhance service delivery across multiple sectors, including finance, telecommunications, e-commerce, and more.

“Customers can expect enhanced capabilities in identity verification, background checks, risk management, and regulatory compliance solutions tailored to meet businesses’ evolving needs,” he stated.

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Tech

Egypt’s EdVentures invests in eight ed-tech startups

Published

6 hours ago

October 5, 2024

Isaac Dachen

Egyptian ed-tech startup, EdVentures, has announced the selection of eight new startups which it would invest in and provide funding and support to following a comprehensive evaluation of entrepreneurs participating in EdVentures’ recent business accelerator programme.

EdVentures, the ed-tech focused Venture Capital arm of publishing company, Nahdet Misr Group, has, since its establishment in 2017, been at the forefront of investing in innovative ed-tech startups.

“These eight startups will join a roster of 14 companies that EdVentures has previously invested in, bringing its total portfolio to 22 companies,” a statement by the firm said.

“The selected startups include tutoring platform El Kheta, digital educational content provider Saikoro, creative education platform The Copywriter, and STEM learning solution Techy App.

“The cohort is completed by school transportation solution SchoolZ, STEM learning platform ArmStrong, tutoring service Tutoro, and educational fundraising solution InvestED,” it added.

Tech

Nigerian fintech Fincra secures licence to operate in South Africa

Published

2 days ago

October 3, 2024

Isaac Dachen

Nigeria-based pan-African payment infrastructure provider, Fincra, has been granted a Third Party Payment Provider (TPPP) licence to expand its services into South Africa.

The TPPP will enable the platform to extend its payment solutions to businesses in the country, while the new regulatory approval marks a significant step in Fincra’s mission to make sending and receiving value across Africa and beyond as seamless as sending a text message, according to the startup’s CEO and co-founder, Wole Ayodele.

Ayodele, who expressed the company’s enthusiasm about the development, noted that South Africa represented a prime market for the company’s growth as it represented the company’s vision to build a continent-wide payment infrastructure.

“We have long recognised South Africa as an ideal market for us, and we are excited to contribute with our innovative payment solutions,” Ayodele said.

“The decision to enter South Africa is consistent with our overall strategy of expanding in key African markets.

“According to the International Monetary Fund (IMF), South Africa boasts the largest economy in Africa, with a gross domestic product (GDP) of $373 billion and with it’s diverse economy, supported by sectors such as manufacturing, mining, agriculture, and tourism, provides numerous opportunities for Fincra’s payment solutions to help businesses process transactions efficiently.

“Fincra’s entry into South Africa is part of the company’s vision to build a continent-wide payment infrastructure, ensuring full compliance with local regulations while enabling seamless, secure transactions for businesses.

“Fincra can now offer its services to South African businesses thanks to the TPPP licence, which allows them to access a wider range of payment methods and facilitates smoother cross-border transactions,” he added.