Kenyan identity management startup Peleza has merged with Prembly, a company backed by Y Combinator. Both companies have not disclosed the financial details of this transaction.
Prembly specialises in identity verification, security, and compliance, while Peleza focuses on background checks for businesses. Peleza has established key partnerships in East Africa with companies like Uber, Bolt, and FedEx. This merger aims to leverage Peleza’s local expertise to build a stronger presence in East Africa and enhance customer service.
For the past 18 months, Peleza has been using Prembly’s infrastructure. Peleza’s founder Marita Mutemi said,“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,”
Lanre Ogungbe, co-founder and CEO of Prembly, highlighted the benefits of the merger: “Merging both companies significantly increases our options and value, positioning us as the most used provider across Pan-Africa and achieving leader status in this space,”
Ogungbe will serve as CEO of Prembly Group, while Mutemi will take on the role of CFO and CEO of Prembly East Africa. Other Peleza executives will retain their leadership roles to ensure continuity. The combined team will have around 100 employees, though ten positions will be cut due to role duplication. Affected staff will receive severance packages.
The merged entity will be called Prembly Group, leveraging Prembly’s strong brand and global recognition in compliance and digital security solutions. The companies plan to integrate their KYC/B technology platforms.
Founded in 2015, Peleza has not disclosed any venture capital funding. Prembly, founded in 2021, raised $2.8 million in seed funding in 2022 from MaC Venture Capital and Soma Capital.
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