Press Release: Accredify Verifies More than 7 million Documents, Raises More than USD$2,000,000
SINGAPORE, 1 October 2021 – Accredify, Singapore’s leading provider of verifiable digital documents, today announced the closing of its funding round during which they raised USD$2,000,000.
The round was led by Qualgro, a leading venture capital firm investing in business-to-business (B2B) tech firms in areas such as data, artificial intelligence, and software-as-a-service (SaaS) companies. Pavilion Capital, Endeavour Ventures, and K2 Global also participated in the round.
All digital documents issued by Accredify’s cloud-based system are tamper-proof and traceable back to the source of issuance. To verify documents, users simply drag and drop the digital document into an online verifier portal; results are instantaneous.
In addition to its core value proposition of creating and issuing verifiable documents, Accredify offers a suite of APIs and options for systems-to-systems integration. Organisations can create and prepare individualised tamper-proof digital credentials in large batches at the single click of a button.
To date, documents issued by Accredify have been verified more than 7 million times, and the firm is working with more than 900 clients in Australia, Indonesia, Hong Kong, Japan, Malaysia, Netherlands, Singapore, and the UAE.
Accredify was founded in 2019 with the goal of providing a solution to combat a rise in fraudulent education degree certificates in the higher education sector. The firm is currently the market leader in APAC, assisting Asia’s top universities in the creation and issuance of digital tamper-proof graduation certificates and transcripts. Accredify is currently expanding its services to enable universities to create modular learning programmes for students, a novel initiative which allows students to customise their degrees based on individual courses they apply for.
During the COVID-19 pandemic, Accredify expanded its offerings and entered Singapore’s healthcare industry by pioneering the issuance of verifiable COVID-19 swab results following a rise in cases of forged COVID-19 negative test results. Accredify also co-developed HealthCerts, an internationally recognisable standard for COVID-19 test results which has since been mandated by the Singapore government. Through the firm’s numerous international partnerships, COVID-19 test results issued by Accredify are recognised in 82 countries and by 70 airlines.
“The support we have garnered from this round highlights the growing recognition of the importance and value of verifiable documents – a technology that can benefit both individuals and organisations in all industry sectors,” said Quah Zheng Wei, CEO and Co-founder, Accredify, “Over the decades, there has been a transition from physical to digital documents, and we believe the next phase is an evolution towards verifiable digital records. Our goal is to be the leader in Asia in digital document verification.”
Weisheng Neo, Principal at Qualgro also stated that “Accredify removes the uncertainty around authenticity of digital documents, by providing a fuss-free, reliable, and secure solution. This helps companies, from hospitals issuing swab test results to universities issuing diplomas, to ensure their issued documents are authentic and verifiable. Zheng Wei and his team have a vision where in future, no one would need to question the veracity of official documents.”
Accredify is Singapore’s leading service provider for organisations to create and issue verifiable documents. With a presence in more than eight markets serving 900 clients globally, documents issued by Accredify have been verified close to 7 million times. With a dedicated team that embraces the highest standards of customer service, security, and privacy, Accredify’s objective is to be the trusted solution for managing and verifying documents anywhere and anytime.
For more information, visit www.accredify.io and follow us on LinkedIn @Accredify
Jessica Tan Shu En
Marketing and Communications Lead, Accredify