The leading venture capital firms iGlobe Partners and SIG Venture Capital jointly led the Series A funding round that Accredify, a Singapore-based provider of verifiable technology solutions, announced.
Returning investors Pavilion Capital and Qualgro joined the round as well, Accredify said in a statement.
After successfully completing its fundraising, Accredify claimed that it is now in a good position to grow its services and diversify the use cases for verifiable technology solutions across a range of industries in Asia Pacific (APAC).
Accredify is currently developing digital trust in nine markets and eight industries, but in the upcoming year, it will concentrate on Singapore, Australia, and Japan.
In order to accomplish this, Accredify will use the money raised from fundraising to expand its staff in Singapore and its target nations.
In order to better contribute to the creation of digital trust applications for regional markets, this includes increased investment in its first international office, which was established last year in Sydney, Australia. It also includes plans for an office in Japan.
In order to help more markets and industries use verifiable technology solutions to improve business operations, public sector governance, and everyday life, Accredify said it will also speed up the development of its software as a service (SaaS) solution.
“The strong support we have received is an affirmation that verifiable data is the future standard for information,” said Quah Zheng Wei, Chief Executive Officer and Co-Founder, 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,” he added.
Accredify was founded in 2019, and its early success came from assisting higher education institutions in issuing verifiable credentials.
The SaaS solution from Accredify is currently used in both the public and private sectors, allowing businesses and government agencies to digitally issue verifiable documents.