The Kenyan startup Peleza, specializing in identity management, has combined forces with the Y Combinator-supported Prembly to establish the Prembly Group. The specifics of the financial terms involved in the merger have not been disclosed by either company.
Peleza, known for conducting background checks for businesses, has established significant partnerships in East Africa, including with prominent mobility apps such as Uber and Bolt, as well as the international logistics giant FedEx. Prembly, on the other hand, offers services in identity verification, security, and compliance. The newly formed Prembly Group aims to capitalize on Peleza’s regional expertise to enhance its business presence in East Africa and to elevate the customer service experience.
Peleza has been utilizing Prembly’s infrastructure for the past year and a half, and this merger is a natural progression of their collaborative efforts. Marita Mutemi, the founder of Peleza, conveyed to TechCabal that the merger is a strategic move to broaden their service offerings and reach in various markets, including the global stage.
Lanre Ogungbe, co-founder and CEO of Prembly, expressed that the union of the two companies will significantly boost their market offerings and position them as a leading provider in the Pan-African region. Ogungbe has been named the CEO of the newly formed Prembly Group, while Marita Mutemi will take on the role of CFO and also serve as the CEO of Prembly East Africa. According to Mutemi, other Peleza executives will maintain their leadership positions, providing consistency and stability within the organization.
The merger results in a combined workforce of approximately 100 employees. However, Ogungbe and Mutemi have indicated that around ten positions will be made redundant due to overlap caused by the merger. Affected employees will be offered severance packages.
The decision to operate under the name Prembly Group was a joint choice, intended to capitalize on Prembly’s brand recognition and its established reputation in the global market for compliance and digital security solutions. Both companies are set to integrate their respective KYC/B technology platforms, streamlining their operations and services.
Peleza, founded in 2015, has not publicly disclosed any venture capital funding, whereas Prembly, established in 2021, secured a seed investment of $2.8 million in 2022, with backing from investors such as MaC Venture Capital and Soma Capital.
