Peleza, the Kenyan identity management startup, has merged with Prembly to become the Prembly Group. Both companies have refused to give a statement, keeping the transaction details under wraps.
Prembly offers identity verification, compliance, and security, while Peleza conducts background checks on businesses. However, Peleza has built an important partnership in East Africa with Uber, Bolt, and logistics startup FedEx.
With Peleza’s expertise, the Prembly Group can now develop its East African business and improve customer service offerings.
The name Prembly Group was derived from a mutual agreement by both companies to leverage Prembly’s already existing brand equity and market presence.
For over a year and a half, Peleza has been using the Prembly infrastructure in its operations.
“This merger serves as an extension of that collaboration and our longstanding partnership, providing an opportunity to expand service offerings to customers around the world.
Marita Mutemi, Peleza Founder
“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.
Lanre Ogungbe, Co-founder & CEO of Prembly.
Following the merger, Lanre Ogungbe was appointed as the CEO of the Prembly Group. While Mutemi will become the CFO. Other Peleza executives have been reassigned to required roles within the Prembly Group, although maintaining their leadership roles which ensures stability and continuity.
According to the data shared by the Group, this merger will create a combined team of over 102 employees. However, the Prembly Group announced that at least ten employees would be laid off because their roles had been replicated by the merger.
These laid-off employees will all receive severance packages. Prembly Group is currently making plans to integrate the KYC/B technology into both companies.