The Accredify team
Singapore-based Accredify, a company that allows organisations to create and issue verifiable documents, today announced the closing of a US$2-million financing round led by VC firm Qualgro.
Pavilion Capital, Endeavour Ventures, and K2 Global also participated.
Accredify was founded in 2019 to provide a solution to combat a rise in fraudulent education degree certificates in the higher education sector. It assists Asia’s top universities in the creation and issuance of digital tamper-proof graduation certificates and transcripts.
To verify documents, users can drag and drop the digital document into an online verifier portal. The results are instantaneous.
The company says all digital documents issued by Accredify’s cloud-based system are tamper-proof and traceable back to the source of issuance.
The startup is currently expanding its services to enable universities to create modular learning programmes for students. This initiative allows students to customise their degrees based on individual courses they apply for.
In addition, 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.
The firm works with more than 900 clients in Australia, Indonesia, Hong Kong, Japan, Malaysia, Netherlands, Singapore, and the UAE. It claims it has verified more than seven million documents so far.
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. The test results issued by Accredify are recognised in 82 countries and by 70 airlines.
Accredify co-founder and CEO Quah Zheng Wei said, “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.”
In September 2020, Accredify announced a partnership with SGInnovate to launch a digital health passport that would help accelerate the re-opening of travel borders. The passport allows individuals to store their medical information, including COVID-19 testing and vaccination reports digitally signed by accredited bodies, on the app. By using blockchain technology, medical records in the app can be traced back to the source.
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Image Credit: Accredify
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