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Nigerian identity verification startup, Youverify raised $1million in seed round of funding


Youverify, an identity verification firm with offices in Lagos and San Francisco, has made public its acquisition of one million dollars in early capital to expand its operations throughout Africa.

LoftyInc Capital and Orange ventures were the primary investors in this fundraising round.

In addition, Syntax Ventures, Plug & Play Venture, Afer Group, Outerra Capital, Fronesyz Capital and HTTP Investors participated in the round of fundraising, respectively.

The total amount of money raised now stands at $2.5 million, thanks to this new fund.

The company was established in 2017 by Gbenga Odegbami and Suru Avoseh. It has stated that it intends to ramp up its hiring efforts in preparation for expanding into thirty other countries.

The firm stated, “We are happy to announce that we have obtained an additional USD 1 million extension to the seed round, bringing the total amount raised for this round to USD2.5 million.”

We will like to express our gratitude to After Group, Lo ftyInc Capital Managemen, Orange Ventures, HTTP Investors, Plug & Play Tech Center, Fronesyz Capital LLP, Syntax Ventures, and Afer Group, for their contributions to our funding and for paving the way for our success.

Additionally, the company issued the following statement: “We would like to thank all of our partners and customers for choosing us, and we are still committed to delivering you the support and technology you need to expand your business without worrying about compliance breaches or frauds.”

The company said the money would hire new employees, grow in Africa, and improve and develop its products.




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