Overview of Prembly and Peleza
Prembly, established in 2015, offers identity verification, security, and compliance services to its customers. In 2022, the company raised a $2.8 million seed round, underscoring its growth and market potential. Peleza, also founded in 2015, specializes in conducting background checks for businesses. The company has formed strategic partnerships with major players in East Africa, including e-hailing platforms Bolt and Uber, and the US multinational logistics corporation, FedEx.
Merger Details and Strategic Goals
The newly formed Prembly Group aims to capitalize on the strengths of both companies to build a larger and more robust business in East Africa. By leveraging Peleza’s industry knowledge and enhancing customer service offerings, the merger is expected to drive significant growth and expansion.
Marita Mutemi, CEO and Co-founder of Peleza, stated to Techcabal, “This merger serves as an extension of that collaboration and our longstanding partnership, providing an opportunity to expand service offerings to customers across various markets and globally.”
Lanre Ogungbe, Co-founder and CEO of Prembly, highlighted that the merger will significantly increase the Group’s options and value, positioning it as the continent’s leading identity management service provider.
Leadership and Organizational Structure
Following the merger, Lanre Ogungbe will assume the role of CEO of Prembly Group, while Marita Mutemi will join as Chief Financial Officer (CFO) and CEO of Prembly East Africa. Mutemi emphasized that other Peleza executives have been reassigned to ensure continuity and stability within the new organization.
Despite the merger accounting for a combined staff of about 100, it has been disclosed that at least ten employees will be transitioned out of the organization. These employees will receive severance packages as their roles have been made redundant.
Rationale Behind the New Name
The decision to name the new organization Prembly Group was a mutual agreement between Peleza and Prembly. Lanre Ogungbe explained that this decision leverages Prembly’s established brand equity and market presence, particularly its global recognition in compliance and digital security solutions.
Integration of Technology Platforms
Plans are underway to integrate the Know Your Customer or Business (KYC/B) technology platforms of both companies. This integration is expected to enhance the Group’s service offerings, streamline operations, and provide a comprehensive suite of identity management and background check services to clients.
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Conclusion
The merger of Prembly and Peleza to form Prembly Group represents a strategic move to consolidate their strengths and expand their footprint in East Africa. With a combined expertise in identity verification, security, compliance, and background checks, the new entity is poised to become a dominant player in the region’s digital security and identity management landscape. The integration of technology platforms and strategic leadership appointments further underscore the Group’s commitment to delivering enhanced value to its customers.
