Accredify Raises $7 million in A-Round Financing

According to reports, Accredify, a blockchain verification technology solution headquartered in Singapore, announced the completion of a $7 million A-round financing, led by iGlobe Partners and SIG Venture Capital, who had previously invested in the company’s Pavilion Capital and Qualgro. Accudify utilizes the underlying use of blockchain technology to ensure the authenticity of shared or received files, prevent fraud and forgery, such as verifying fake degrees and certificates. The company can also help businesses create customer identities, wallets, or file storage on blockchain (currently mainly in Ethereum), ensuring that business data is verifiable.

Singapore’s blockchain validation technology solution, Accredify, completed $7 million A-round financing

Introduction

Recently, Accredify, a blockchain verification technology solution, announced the successful completion of its $7 million A-round financing. This funding round was led by iGlobe Partners and SIG Venture Capital, who have previously invested in Pavilion Capital and Qualgro, two of the companies under Accredify’s umbrella.
Accredify has been making waves in the blockchain industry, and this financing round will enable the company to expand and enhance its services.

What is Accredify?

Accredify is a Singapore-based blockchain technology solution provider that uses the underlying principles of blockchain technology to ensure the authenticity of shared or received files, thereby preventing fraud and forgery, such as verifying fake degrees and certificates.
In addition to file verification, Accredify also offers the creation of customer identities, wallets, or file storage on blockchain (currently mainly in Ethereum), which provides verifiable data to businesses.

Significance of the Financing

This successful funding round is significant as it will allow Accredify to expand its solutions further into various markets. It will also enable the company to enhance its research and development efforts and scale up its operations.
Additionally, the financing will help uplift the blockchain industry in Singapore by providing employment opportunities in the sector and enabling innovation.

The Blockchain Industry in Singapore

Singapore has been named as one of the leading hubs for blockchain technology in Asia. The Government of Singapore recognizes the immense potential of blockchain technology and has taken significant steps to encourage its growth.
The city-state has been home to various major blockchain initiatives and events. Singapore also has one of the highest numbers of crypto exchanges and blockchain-related companies per capita globally.
Accredify’s success in raising $7M will undoubtedly fuel further growth in the blockchain industry in Singapore, which is already making significant strides in the region.

The Future of Accredify

Accredify’s efforts in blockchain technology show great potential for further growth in the future. The company has already collaborated with several universities and has been instrumental in the verification of graduate certificates.
Additionally, Accredify plans to expand its ecosystem of partners and service offerings. The company aims to achieve greater transparency, security, and efficiency for its customers by utilizing blockchain technology.

Conclusion

Accredify’s successful funding round is evidence of the immense potential the company has shown in the blockchain industry. Their utilization of blockchain technology to provide verification solutions is groundbreaking and has the potential to change how businesses operate.
With the funding, Accredify can expand its solutions and continue to innovate, further uplifting Singapore’s blockchain industry.

FAQs

#How does Accredify prevent fraud and forgery?

Accredify uses blockchain technology’s underlying principles to ensure the authenticity of shared or received files or certificates, thereby preventing fraud and forgery.

#What other solutions does Accredify provide apart from file verification?

In addition to file verification, Accredify offers the creation of customer identities, wallets, or file storage on the blockchain (currently mainly in Ethereum), providing verifiable data to businesses.

#Will Accredify continue its efforts to support the blockchain industry in Singapore?

Yes, Accredify has plans to expand its ecosystem of partners and offering services to continue working towards achieving greater transparency, security, and efficiency for its customers.
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