Nigeria’s identity verification regtech startup, Youverify has taken its African expansion drive into Kenya after successfully launching its operations in Ghana, South Africa, Côte d’Ivoire and Uganda.
The move into the Kenyan market with its full-cycle global compliance products, is coming after the startup raised $1 million in seed extension funding in August last year to take the total size of its round to $2.5 million.
Co-founder and CEO of Youverify, Gbenga Odegbami, who spoke at the launch of the platform in Nairobi, said having its products in Kenya was a long-held dream for him and his partners.
“Expanding our products and solutions to Kenya is a strategic move that has always been in the works. Having thoroughly studied the compliance landscape in Kenya, we believe the market is ripe for our superior technology.’’
‘’Expanding our product offerings to Kenya aligns perfectly with our vision to drive financial innovation on a global scale.
“As we bring our cutting-edge technology and expertise to the Kenyan market, we aim to revolutionize the way businesses approach compliance,” he said.
Founded in Nigeria in 2018, Youverify provides API for address and identity verification to several financial institutions in the country, as well as countries where it has its branches.
“Over the years, the company has added more Know Your Customer (KYC), Know Your Business (KYB), Know Your Transaction (KYT), Know Your Employee (KYE), Adverse Media Screening and Risk Intelligence Solution solutions to its offering,” Odegbami said.