Wednesday
August 3
2022

Youverify Secures $1 Million Seed Extension Round, Targets 30 African Countries

By Joan Aimuengheuwa

Lagos- and San Francisco-based identity verification company, Youverify has secured a $1 million seed extension round.

The extension round, which boosted Youverify’s total fund raised to $2.5 million, was led by Orange Ventures and LoftyInc Capital, and also received participation from Octerra Capital, Plug & Play Venture, Syntax Ventures, HTTP Investors, Afer Group and Fronesyz Capital.

On a mission to reduce the rate of fraud and compliance difficulties in Nigeria and Africa at large, Youverify is leveraging innovation to mitigate the circumstance and make KYC process simpler.

The startup was founded in Nigeria by Gbenga Odegbami, 2018, with its first service provision being an API for address and identity verification to several financial institutions. So far, it has included more KYC products and expanded into new markets such as Ghana, Côte d’Ivoire, South Africa, Kenya and Uganda.

Photo courtesy of Olumide Bamgbelu.

Source: TechEconomy.ng (link opens in a new window)

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Technology
Tags
digital identity, digital inclusion, innovation, startups, technology