Accredify, a leading provider of verifiable technology solutions in the APAC region, announced today that it has raised $7 million in its Series A funding round. The funding was co-led by iGlobe Partners and SIG Venture Capital, with participation from Pavilion Capital and Qualgro.
Accredify was founded in 2019 and initially provided solutions to the education sector for issuing verifiable qualifications. However, its SaaS solution is now being used across various public and private sectors, enabling government institutes and enterprises to issue verifiable documents digitally.
The startup’s solution utilizes blockchain technology to ensure document authenticity, thereby protecting against fraud and forgery. Its solutions have been used in multiple verticals, including healthcare, accounting, and even authenticating gemstones.
The company received recognition for its work during the COVID-19 pandemic in Singapore when it deployed its solution for healthcare institutions. It was the only digital trust start-up to receive the President’s Certificate of Commendation for its efforts.
More recently, Accredify partnered with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) to issue verifiable business profiles and certificates for all business entities operating within the country.
With the funds raised in this round, the startup plans to expand its regional presence across APAC, diversifying use cases of verifiable technology solutions across various industries. The company will focus on Singapore, Australia, and Japan in the coming year, and it plans to invest in its first international office in Sydney, Australia.
Accredify also aims to develop its SaaS solution to enable more industries and markets to leverage verifiable technology solutions to build digital trust in business operations, public sector governance, and daily life.
“The strong support we have received is an affirmation that verifiable data is the future standard for information,” said Quah Zheng Wei, CEO and Co-founder of Accredify. “Our solution is industry-agnostic and can be applied to various verticals and use cases. We look forward to working with our investors and leveraging their global networks to bring our digital trust technology to governments and enterprises across the region.”
Dr. Chong Yoke Sin, Managing Partner of iGlobe Partners, commented: “We are thrilled to support Accredify’s vision in paving the future of verifiable data as a lead investor and look forward to working closely with the team in their growth and geographical expansion. This successful round of funding will contribute significantly to Accredify’s development in verifiable technology and in driving the digital trust revolution forward.”