Nigerian identity verification startup, Identitypass, has raised a new $2.8 million seed funding to deepen its business services in Africa.
Founded by Lanre Ogungbe, Niyi Adegboye and Ebuka Obi, the two-year-old startup launched a SaaS platform in addition to its APIs. The software was built to enhance its growth scale and excel among its competitors in the market.
With the latest fund, the company plans to roll out new verticals around compliance, security, and data collection, penetrate new African countries and employ more staff for operational efficiency in the continent.
The company had last November raised $360,000 in pre-seed investment and the latest funding initiative has now brought its total funding to $3.1 million.
The firm’s investors led by MaC Venture Capital also include Y Combinator, Soma Capital, True Capital Fund, and Sherwani Capital.
Identitypass’ management recently disclosed that it had processed over 1 million distinct verifications since its launch about two years ago.
According to the owners, the verifications being provided by the firm include government-approved IDs, such as national IDs, driver licences, international passports, bank verification numbers (BVNs), phone numbers, vehicle plate numbers, debit cards, security watch lists and tax history, amongst other offerings.
Identitypass products help to verify, gain deeper insights about users and businesses, detect as well as prevent fraud.
