Investors Update: Prembly Completes Merger

We have gotten the board’s approval for a complete merger with Peleza.

Prembly: Fastest growing Identity Verification company in the Emerging market

Peleza: Biggest background check company in East Africa.

With this merger, certain things are expected to change;

• Peleza Limited Kenya and Uganda will be rebranded to Prembly Limited.
• The total head count will be 81. Due to duplicated roles, we will be reducing that to 65. Hence, we will let go of 15 individuals.
• Current Peleza CEO – Marita Mutemi will resume as Prembly CFO.
• The company will primarily focus on Economics 101 and ensure that our entire operations are profitable. With this merger, we have become a fully profitable company.

External communication will be happening on June 24th or close.

With the Merger, the company is on track to $8M-$10M ARR.