South African identity management platform provider Intergreatme has raised R27-million, R3-million more than its original target, in a crowdfunding effort.
This follows the launch last Tuesday of a public equity drive via Uprise Africa’s crowdfunding platform. Most of the initial 120 individual investors in the raise are black South African women.
The Intergreatme raise allows individuals with a minimum of R1 000 and a maximum R5-million, to invest in the business.
Intergreatme wants to create a digital platform that will do away with annoying forms.
“The frustration of constantly having to fill out forms and carry personal documentation is a daily issue facing over 25 million credit-active South Africans,” said co-founder Luke Warner in a statement.
The company has developed a Web and mobile app platform, which allows business to digitise citizens’ personal information.
Intergreatme will use the funds raised to create a self-service platform for all sizes of business, while adding additional features and functionality to the Intergreatme app. These include a digital affidavit, trusted connections, QR information sharing, digital ID and drivers’ licences.
“The self-service platform will drive a steady flow of businesses to sign up by themselves, allowing the core operations team to focus on larger potential partners with longer procurement cycles and much larger customer bases,” Warner said.
“Already, the business has signed up a number of local banks and telcos to manage their Rica and Fica processes.”
Integreatme also plans to expand its operations beyond South Africa. — (c) 2019 NewsCentral Media