Smile Identity has announced the completion of a Series B round in which it raised USD 20mn. The identity verification platform will spend the proceeds in three areas; expand its engineering and product innovation teams; grow in Francophone and North Africa and develop the local ecosystem and enforce data protection laws across the continent.
The round was co-led by Costanoa and Norrsken22. New investors were Commerce Ventures, Courtside Ventures, Two Culture Capital and Latitude. Existing investors Valuestream Ventures, Intercept Ventures and Future Africa also supported the round.
The company was founded by Mark Straub and William Bares in 2017. When it raised its USD 7mn series A round in 2017, it operated in six markets: Nigeria, Ghana, Kenya, South Africa, Rwanda and Uganda.