SINGAPORE, 08 April 2021 – Accredify, a Singapore-based firm that helps organisations create and issue verifiable digital documents, today announced the closing of its bridging round during which they raised S$500,000.
New investors joining the round includes Silicon Valley based venture capital firm K2 Global, whose portfolio includes Airbnb, Coinbase, Impossible Foods, Oatly, Palantir, Spotify, and Uber. Prominent decentralised finance investor, Arthur Cheong of DeFiance Capital, also participated in the round.
Funds raised from the bridging round will be invested in product development, data analytics, and the firm’s expansion into foreign markets and other industry verticals.
Sam Gibb, Partner, Endeavour Ventures, one of Accredify’s seed investors who returned to fund the bridging round, said: “We’re really excited to be able to continue supporting the work they are doing at Accredify. The company has gone from humble beginnings in 2019 to become the leading provider of verifiable digital certification in the region today. The team put in the leg work and late nights to bring the healthcare platform to market when it was needed. We’ve been impressed with Zheng Wei and the leadership team’s decorum and dedication when bringing new products to market and feel privileged to be able to invest alongside them. We can’t wait to see how the business evolves as the platform develops into the Google for verifiable documents.”
Founded in 2019, Accredify’s first vertical was the higher education sector where it worked with Asia’s top universities in the creation and issuance of digital tamper-proof graduation certificates and transcripts. It was recognised by HolonIQ as one of 2020’s Top 50 Southeast Asia EdTech firms.
In 2020, Accredify entered Singapore’s healthcare industry by pioneering the issuance of verifiable COVID-19 swab results, now known as HealthCerts – a standard on which all pre-departure COVID-19 swab results in Singapore are now based on. As of March 2021, the firm has verified a total of more than 4.5 million documents.
Quah Zheng Wei, CEO and Co-founder, Accredify, said: “It’s uplifting to note that Accredify’s bridging round was mostly financed by existing shareholders which signifies their confidence in our vision and strategy. We’re immensely grateful for the numerous individuals and institutions around the world who have supported and joined us in our journey. We’re excited to be moving on to the next phase in our growth and look forward to what’s to come.”
For more information on Accredify, follow @Accredify on LinkedIn.
Accredify provides organisations with an end-to-end solution to create, issue and verify a digital twin of their physical documents that are tamper-proof and traceable back to the source. With a dedicated team that embraces the highest standards of customer service, security, legal compliance, Accredify’s objective is to be the trusted solution for managing and verifying documents anywhere and anytime.
Jessica Tan Shu En
Marketing and Communications Lead, Accredify