Business

Identitypass to Boost Digital Verification Across Africa with $2.8 Million Seed Funding

KYC verification company, Identitypass has raised $2.8 million in seed funding, just a few months after the startup raised $360,000 in pre-seed investment last November.

This funding brings the startup’s total funding to $3.1 million.  

Investors who took part in the funding round include MaC Venture Capital, Y Combinator, Soma Capital, True Capital Fund and Sherwani Capital.

The firm says it will use the funding 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.

“The core of our business is making it possible for digital businesses in Africa to easily verify and validate that their customers are who they say they are,” the chief executive said. 

Identitypass launched with one data point in January 2020. But now, 200 active businesses across fintech, e-commerce, education, and mobility connect to 18 data points to verify their customers’ identities on the platform. These businesses are based in Nigeria, the U.K., Kenya, the U.S. and India.

See Also:

Kenya-Focused Social E-Commerce Startup Elloe Secures Pre-Seed Funding


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