VerifyMe, a Nigeria-based Know Your Client startup has secured undisclosed funds from Consonance Investment Managers. The platform will use the investment to fund its digital ID verification products that enable real-time verification for businesses.
Esigie Aguele and Olutunji Oluwole founded VerifyMe in 2017. VerifyMe accesses data from government parastatals in Nigeria to authenticate effective real-time verification. Its public partners include the Nigerian Identity Management Commission, Central Bank of Nigeria and the Federal Road Safety Commission.
See Also: R2S Logistics Raises Undisclosed Funding in Pre-Series A Round
It uses data to provide businesses with KYC tools for verifying the client’s identities. The KYC startup is looking to expand adoption across Nigeria over the next three years.
Since inception, VerifyMe has helped protect companies against fraudulent clients using its tiered verification services. It also seeks to grow its revenue and unlock financial inclusion in rural communities.
Esigie Aguele, VerifyMe’s CEO said, – “We are delighted to partner with Consonance Investment Managers in our mission to build Africa’s KYC infrastructure. Digital services are a key catalyst for Africa’s economic growth and financial inclusion. However, these can only be unlocked if there is a mechanism to verify identity at scale,” he said.
More on TechGist Africa
- Naspers Sold 22 Million Ordinary Shares In Prosus
- Cowrywise and Others to Participate in Catalyst Fund’s Startup Accelerator
- Paga Acquires Apposit to Expand to Ethiopia and Mexico
- Flutterwave Partners Worldpay & Raises $35 Million Series B Round
- Lagos State Government Introduces 5000 Drones to Monitor Waterways
