Nigerian Startup Identitypass Raises USD 2.8 Mn Seed Funding

Nigerian SaaS startup Identitypass is today announcing that it has raised USD 2.8 Mn in seed funding, months after graduating from Y Combinator. The round also comes a few months after the startup raised USD 360 K in pre-seed investment last November, bringing its total funding to USD 3.1 Mn. MaC Venture Capital led the round with participation from Y Combinator, Soma Capital, True Capital Fund, and Sherwani Capital.

Identitypass aims to build a world-class compliance and security infrastructure for Africa. The platform provides easy-to-use compliance and data security platform that allows online businesses to easily authenticate and validate the identity of a transacting party through existing forms of identification. The startup plans to expand its existing infrastructure, roll out new verticals around compliance, security, and data collection, push into new African countries and make new hires to its 14-man team.