Seamfix, a Nigerian digital identity solutions provider, has secured $4.5 million to scale the technology infrastructure that underpins its solutions, improve data flow crucial for continental trade and integration, and kickstart the expansion of its digital ID and credential services into five new African countries.
The investment came from Alitheia IDF, a gender lens investing fund. Tokunboh Ishmael and Frank Atube join the board of Seamfix.
Seamfix, founded by Chimezie Emewulu and Chibuzor Onwurah, provides identity creation, verification and transaction accreditation solutions for organisations and government agencies across Africa.
The new funding represents Seamfix’s first institutional investment, and it will enable the company to expand its services to Ghana, Kenya, South Africa, Ethiopia, and Uganda.
Digital ID and verification systems are crucial to unlocking significant economic value across Africa’s growing and increasingly digital societies. From financial participation and efficiency in government services to public health and job creation, digital ID and verification systems are a fundamental driver of economic growth on the continent. A recent report suggested that African countries that implement effective digital ID systems can boost their GDP by up to 13 per cent.
Chimezie Emewulu, Group CEO, and co-founder of Seamfix, said “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. 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.”
Tokunboh Ishmael, Principal Partner, Alitheia IDF, said “In an increasingly digital-first world where digital platforms are enabling inclusion and broadening access to essential services, digital IDs are key to accessing opportunities. According to a recent McKinsey report, such access can result in the unlocking of up to 70% of an economy’s full economic potential and an additional 6% of GDP.
“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. With this investment, Alitheia IDF is working with Seamfix to amplify its work in enabling millions of women to participate in the African economy and reach their full potential by providing crucial identification services and empowering businesses across the continent to scale”
