iiDENTIFii - Afrikan Heroes

South African Digital Identity Startup iiDENTIFii Secures $15m To Expand Across Africa

October 1, 2022

iiDENTIFii, a digital identity startup based in Cape Town, has secured $15 million in growth capital to help it expand across Africa.

Its US$15 million fundraising round was led by African investment firm Arise, with Rabobank Partnerships, Norfund, NorFinance, and FMO as key investors. Along with Arise, Sanari Capital, a growth-stage private equity firm, and veteran US IT entrepreneur Bill Spruill participated in the round.

This money will be used to finance iiDENTIFii’s growth across Africa. Cybercrime in the financial sector is a rising concern to the continent, and the firm thinks that its biometric authentication, which secures access to critical financial information, may be an important element of the continent’s financial inclusion, digital inclusion, and identity inclusion.

“I’m incredibly proud of our engineering team and our growth as a company over the past three years,” said iiDENTIFii founder and CEO Gur Geva. “This investment validates our central business thesis that we are the preferred partner for enterprise-grade identity in Africa. We’re excited to put the investment to work as we close in on our goal of authenticating every face in Africa. With this new funding and the networks of Arise, Sanari, and Bill — we confidently continue our mission of stopping identity theft in Africa.”

According to Arise CEO Gavin Tipper, iiDENTIFii complements his firm’s portfolio of bank investments in Sub-Saharan Africa and marks the firm’s first move into the African fintech industry.

“We are excited about our partnership with iiDENTIFii, which will allow us to offer their unique technology to banks in Sub-Saharan Africa, strengthening digital anti-money laundering practices and advancing financial inclusion,” he said.

A Look At What The Startup Does

Founded in 2018, iiDENTIFii has created powerful facial authentication technology that securely authenticates users in seconds via their mobile phones or PCs. The firm operates across various business verticals and is utilised for both consumer and staff identification by the top pan-African banks, insurance, and mining houses.

Experts Launch Media Training Competition to Support the Visibility of African Voices

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexpert

Why Facial Verification Is Key to Ending Facial Biometric Software Bias

February 13, 2021

As the global need for inclusive biometric security in facial identification increases, developers need not overlook the burden of a non-biased solution. Teki Akuetteh Falconer, from the African Digital Rights’ Hub, says racial profiling is a major concern in terms of facial identification software. This presents a challenge for Africa because if an individual’s identity cannot be reliably processed by both the public and private sectors, their ability to function in a digital society is hampered.

The World Bank and the United Nations anticipate that by 2030 all Africans will have some form of digital identity which will prove critical when it comes to accessing essential services such as housing, schooling, healthcare and banking, to name a few.

Gur Geva, Founder and CEO of iiDENTIFii, provides clarity on the difference between facial verification and facial recognition. “There is a significant difference between facial verification and facial recognition. Often these two terms are used interchangeably, but they are worlds apart.”

Facial Verification

Facial verification is a voluntary process. The individual willingly provides a live image or selfie and consents to the full scope of its usage. For example, this may be for access to their office laptop, home or online banking app. This is a co-operative process because the use of a digital identity is volunteered, and the terms and conditions for its use are clear.

Facial Recognition

Geva says that facial recognition is often a more ambiguous process. It is not unusual for a person’s digital identity to be pulled from a source that is unaccredited and used without the owner’s permission. It is within this space that racial bias and false positives can cause havoc for the individual as they go about their day-to-day life.

Facial Recognition and Identity Fraud

Identity fraud is a growing concern. The fact that the global biometric security sector is set to reach over R1000 billion by the year 2025, cements its necessity within our expanding digital world.

“While this kind of market growth is great, we can’t forget that the biometric industry has been pushed to rapidly evolve – especially in the wake of COVID-19 – due to increased demand for robust and touchless security,” says Geva.

This rapid technological development has left some unfortunate errors in its wake. It was recently reported that a facial verification software provider accidentally identified a female International talk show host as a man, while another system incorrectly matched 28 members of U.S. Congress to the police mugshots they had on file. The report also revealed that in the U.S., the highest number of facial verification errors occurred within the Native American population, and among Asian and black women.

Geva adds, “These types of biased errors are simply not acceptable. It is essential that the algorithms developed by biometric identity companies navigate the facial features of all ethnic groups seamlessly.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry