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Youverify, a Lagos and San Francisco–based identity verification startup, has announced a USD 1 Mn seed round extension to expand the number of identities it can verify. Orange Digital Ventures (ODV) and LoftyInc Capital led the extension round. Octerra Capital, Plug & Play Venture, Syntax Ventures, HTTP Investors, Afer Group, and Fronesyz Capital also participated.
Youverify facilitates the automation of Know Your Customer (KYC) and other compliance procedures for African banks and startups, combining KYC and compliance products like transaction monitoring to address issues like anti-money laundering (AML) and fraud.