Kenyan identity management startup Peleza has merged with YC-backed Prembly to form the Prembly Group. Both companies have declined to provide specific financial details of the transaction.
Prembly, known for its identity verification, security, and compliance services, will now integrate Peleza’s expertise in conducting business background checks.
This merger aims to leverage Peleza’s critical partnerships in East Africa, which include mobility apps Uber and Bolt and logistics corporation FedEx, to build a more substantial East African business and enhance customer service offerings.
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Peleza-Prembly Extended Collaboration
Over the last 18 months, Peleza has been utilising Prembly’s infrastructure. “This merger serves as an extension of that collaboration and our longstanding partnership, providing an opportunity to expand service offerings to customers across various markets and globally,” Peleza’s founder, Marita Mutemi, told TechCabal.
Lanre Ogungbe, the co-founder and CEO of Prembly, has been appointed the CEO of the Prembly Group. Marita Mutemi, the founder and CEO of Peleza, will join the Prembly Group as CFO and serve as Prembly East Africa’s CEO. “Other executives from Peleza have been reassigned and retained their leadership roles, ensuring continuity and stability,” Mutemi told TechCabal.
Impact on Workforce
The merger creates a combined team of about 100 employees. However, Ogungbe and Mutemi disclosed that at least ten employees will be let go due to role duplication resulting from the merger. Affected staff members will receive a severance package.
“The decision to name the entity Prembly Group is borne out of a mutual agreement to leverage the brand equity and established market presence of Prembly, especially given its global recognition in compliance and digital security solutions,” said Ogungbe.
Plans are underway to integrate the KYC/B technology platforms of both companies to streamline operations and enhance service delivery.
The merger between Peleza and Prembly represents a significant step towards consolidating identity management services in East Africa, positioning the newly formed Prembly Group as a leader in the Pan-African market.
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More on Peleza
Founded in 2015, Peleza is an East African venture specialising in KYC, KYB, and background check services. Peleza uses reliable national and international data sources, ensuring compliance with privacy regulations. Its infrastructure provides instant and seamless identity verification, background checks, and onboarding solutions, empowering businesses of all sizes to hire customers and accurately conduct transactions safely.
More on Prembly
Prembly is a compliance and security infrastructure company that is innovating essential infrastructure for digital integration across Africa. Founded in 2021, Prembly raised a $2.8 million seed round in 2022, backed by MaC Venture Capital and Soma Capital.
The YC-backed company specialises in identity verification, fraud prevention/detection, and background checks, enabling businesses in over 40 African countries to transact securely and supporting companies entering African markets.