twitteryou tubeacpRSS Feed

Orange Digital Ventures Africa has announced its latest investment on the African continent by leading the US$1.5mn seed investment round in Youverify

The start-up, founded in Lagos, automates identity and background verification processes, primarily serving financial and telecommunication service providers. Youverify is the fifth company to join the portfolio of Orange group’s African investment initiative.

Financial and mobile payment services continue to accelerate their development on the continent, Orange Digital Ventures said in a statement. Verification tasks remain complex and manual for major players, fintech and large corporates and the rise of RegTech companies, such as Youverify, is vital for the market in order to speed up and simplify these tasks, it added.

Co-founded by Gbenga Odegbami, the company’s CEO, Youverify aims to help companies automate the verification processes of different types of data treated separately, such as identity, academic background, home address, credit history, facial recognition, for example. while respecting the highest standards of regulation and data protection.

The US$1.5mn investment round will help Youverify improve its technology and accelerate business development in Nigeria and the continent.

Since its launch in Lagos in 2018, Youverify has already performed more than 300,000 customer registrations and verifications for some of Nigeria's largest banks and financial companies. 

SEACOM debuts LEO satellite service, enhancing connectivity in South Africa; industry leaders endorse its potential for digital transformation. (Image source: Adobe Stock)

Paratus Group pioneers fastest fiber express route linking Johannesburg to Europe, revolutionising telecommunications with low latency and high-speed connectivity. (Image source: Adobe Stock)

Empowering girls through innovation in education across Africa. (Image source: Adobe Stock)

(L-R): Dr Diane Karusisi, CEO, Bank of Kigali and Dr Reda Helal, group managing director – processing, Africa and co-head group processing, Network International. (Image source: Network International)

Kagiso Mothibi, MTN SA’s general manager for fintech products and services. (Image source: MTN)

Huawei Cloud pledges US$10mn in credits, aims to support 100 Nigerian startups, fostering innovation & digital transformation. (Image source: Adobe Stock)

Microsoft envisions AI empowering Africa's progress, highlighting strategies for governance and partnerships to ensure equitable advancement. (Image source: Adobe Stock)

American Tower and ProFuturo join forces to revolutionise education in Africa, bridging the digital divide and empowering underserved communities. (Image source: Adobe Stock)

Orange Digital Center and Coursera join forces to offer free certification courses for new digital professions. (Image source: Adobe Stock)

Africa Data Centres & DPA SA pioneer solar farm for sustainable data solutions in South Africa. (Image source: African Data Centres)

MTN leads South Africa's mobile networks with exceptional speeds, while Vodacom excels in 5G. (Image source: Adobe Stock)

MainOne, an Equinix subsidiary, partners with Akwa Ibom state for high-speed connectivity, enhancing Nigeria's digital landscape. (Image source: Adobe Stock)

Debbie Beech, country manager: SA and SADC at cybersecurity expert, Exclusive Networks Africa. (Image source: Exclusive Networks Africa)

South African government plans to extend Wi-Fi connectivity to 5.5 million households in rural and township regions over the course of the next three to four years. (Image source: Adobe Stock)

MTN & Airtel create APEP to boost mobile money in Congo. (Image source: Adobe Stock)