NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Africa’s leading KYC onboarding and identity verification platform, Smile Identity has secured a $20 million Series B to grow its team and expand its offering across Africa.

The digital economy is rapidly expanding in Africa, with nearly 600 million internet users already and a target from the African Union of universal digital access by 2030.

This presents a tremendous opportunity for the growth of internet-powered digital and financial services but brings the challenge of preventing bad actors from infiltrating systems and putting user data and money at risk. To meet these challenges, businesses and organisations must onboard customers quickly and securely while maintaining compliance across complex and changing regulatory requirements.