Prembly Acquires UseTunnel
Prembly Acquires UseTunnel

Prembly Acquires Tunnel to Empower Businesses with a more Robust Identity Verification, Compliance and Security Infrastructure

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We are delighted to announce the acquisition of Tunnel, also known as Use Tunnel, a company at the forefront of facilitating legitimate data sharing among businesses. This strategic move represents a significant milestone for Prembly as it strengthens our already extensive array of security solutions and expands our presence in emerging markets, solidifying our position as the continent’s foremost compliance and security infrastructure provider.

Over the past few years, we’ve been dedicated to building a robust infrastructure by combining identity verification products, including document verification, biometrics, and other security and compliance-enabling tools. These efforts have enabled local and global businesses to verify their users’ true identities instantly, comply with global and local regulations, and establish a safer online environment for individuals. Similarly, Tunnel (Usetunnel Limited), founded by Tobi Okedeji, Yusuf Badmos, and Ibraheem Lanre, specializes in data analytics and infrastructure, primarily facilitating legitimate business data sharing.

Both companies share a central goal of combating fraud and enhancing data security across Africa. By aligning our visions and strengths, we believe this acquisition will deliver unparalleled solutions to businesses in emerging markets, granting millions of enterprises access to accurate data to fortify their security.

Our CEO, Lanre Ogungbe, expressed his enthusiasm toward the acquisition: “We are fortifying our infrastructure by acquiring Tunnel, an innovative company empowering credit data sharing across businesses. This strategic move expands our financial data capabilities across emerging markets, enhancing our security and verification systems. This acquisition empowers us to provide businesses with accurate and actionable credit data.”

What This Means For Our Customers/Partners

For our customers, acquiring Tunnel provides a wider range of APIs offering creditworthiness assessments, anti-fraud checks, and insights into user online behavior, creating a more comprehensive security and compliance infrastructure. Moreover, more than before, we will now extend our services to thousands of businesses worldwide, catering to various industries, including Finance, Crypto, Banking, Mobility, and any digital business requiring extensive data screening.

Tobi Okedeji, Co-founder and CEO of Tunnel, shared his excitement about the collaboration, stating, “We are proud to join forces with Prembly as we integrate our solutions into an extensive compliance and security network. This acquisition marks a drive towards empowering businesses, particularly with actionable customer information and insights.”

Additionally, incorporating Tunnel’s services into Prembly’s offerings will equip our customers and other businesses with a powerful tool for scaling, providing them access to real-time customer information from various sources through a unified API. This will be particularly valuable to our clients, banks, and financial services institutions across the globe.

As financial data plays a fundamental role in identity verification, Tunnel enables regulated providers to access, utilize, and share valuable data by connecting lenders with high-quality data and sustainable technology. This will, in turn, empower our customers to engage seamlessly with a wide range of financial solutions.

We are thrilled to onboard Tunnel and eagerly anticipate the expansion of our service offerings, benefitting businesses and customers alike. This acquisition exemplifies our commitment to providing cutting-edge solutions and contributing to a more secure and compliant Internet ecosystem. We welcome you to embark on this journey with us.

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