Youverify
Youverify
| File:Youverify logo.png | |
| Private | |
| ISIN | 🆔 |
| Industry | Regulatory technology (RegTech) |
| Founded 📆 | 2018 |
| Founder 👔 | |
Area served 🗺️ | Global |
| Products 📟 | customer Onboarding and Verification, Transaction Monitoring, AML and Sanction Screening, Risk Management |
| Members | |
Number of employees | |
| 🌐 Website | youverify.co |
| 📇 Address | |
| 📞 telephone | |
Youverify is a fraud prevention company [1] and regulatory technology (RegTech) company that provides artificial intelligence (AI)-powered solutions for fraud prevention and anti-money laundering (AML) compliance.[2]The company enables banks, fintechs, and other regulated entities to automate identity verification, customer onboarding, and risk management processes while maintaining compliance with regional and international regulations.[3]
Headquartered in Nigeria and the USA [4], Youverify’s technology enables organizations to detect, investigate, and mitigate financial crimes in real time. Its platform integrates digital identity verification, Know Your Customer (KYC), Know Your Business (KYB), transaction monitoring, and workflow automation into a unified system that supports compliance teams.[5]
History
Youverify was co-founded by Gbenga Odegbami in 2018 to address Africa’s growing demand for secure and reliable compliance infrastructure.[6] In 2020, the company secured seed funding led by Orange Ventures.[7]
In 2024, Youverify announced a US$2.5 million pre-Series A round led by Saudi Arabian firm Elm, aimed at enhancing its AML compliance capabilities and expanding into new African markets.[8]
Services
Youverify provides a suite of RegTech solutions designed to help organizations prevent fraud, ensure regulatory compliance, and streamline digital onboarding.[9] Its platform includes features such as customer and business onboarding, anti-money laundering (AML) and sanctions screening, real-time transaction monitoring, source of wealth verification, liveness detection through biometric technology, and risk intelligence. These services are utilized by commercial banks, financial technology companies, insurance firms, cryptocurrency platforms, and other regulated entities to assist in compliance and prevent financial crime.
Partnerships and Expansion
Youverify, known as a startup in Africa for KYC [10] has partnered with financial institutions and digital banks across Africa, some of which include NIMC, NIBBS, NIS, FAN, Paystack, Transunion, Dot Africa, MTN, Periculum, Vericred, Peleza and Metropol, to provide compliance and fraud prevention infrastructure. In 2024, it expanded operations into Kenya[11] and other East African markets following its pre-Series A funding round.[12]
Recognition
In 2023, Youverify was included in the RegTech100 list, which recognizes the most innovative global RegTech companies.[13] In 2024, the company was also featured among Africa’s top RegTech startups by publications such as TechCabal and Biometric Update.[14]
See also
- Paystack a financial technology company that provides online and offline payment solutions
- Flutterwave a fintech providing payment infrastructure, e-commerce solutions, and cross-border remittance
References
- ↑ Obi, Daniel (2024-11-19). "Youverify named Best GRC and Financial Crime Prevention Solution Provider of the Year". Businessday NG. Retrieved 2025-10-17.
- ↑ Kene-Okafor, Tage (2024-03-14). "Nigeria's Youverify raises $2.5M to enhance anti-money laundering compliance". TechCrunch. Retrieved 2025-10-17.
- ↑ "The Evolution of Regtech: Insights From Youverify: By Luigi Wewege". Finextra Research. 2023-08-18. Retrieved 2025-10-17.
- ↑ "Youverify | LinkedIn". www.linkedin.com. Retrieved 2025-10-17.
- ↑ McConvey, Joel R. (2024-03-15). "Nigeria's Youverify receives $2.5M in funding for biometrics, AML | Biometric Update". www.biometricupdate.com. Retrieved 2025-10-17.
- ↑ "Startups, Innovation and Technology in Africa • Techpoint Africa". 2024-01-31. Retrieved 2025-10-17.
- ↑ "Orange Ventures". ventures.orange.com. Retrieved 2025-10-17.
- ↑ Charles, Udoh (2024-03-15). "Nigeria's Youverify Secures $2.5 Million Investment from Saudi Arabian Firm Elm". Launch Base Africa. Retrieved 2025-10-17.
- ↑ McConvey, Joel R. (2024-03-15). "Nigeria's Youverify receives $2.5M in funding for biometrics, AML | Biometric Update". www.biometricupdate.com. Retrieved 2025-10-17.
- ↑ "List of KYC startups in Africa". startuplist.africa. Retrieved 2025-10-17.
- ↑ Kanali, By Nixon (2023-05-26). "Identity verification company Youverify launches in Kenya". TechTrendsKE. Retrieved 2025-10-17.
- ↑ Kene-Okafor, Tage (2022-08-02). "Youverify extends seed funding to $2.5M as it expands across Africa". TechCrunch. Retrieved 2025-10-17.
- ↑ "RegTech100 2026 - Nominations Open". RegTech100. Retrieved 2025-10-17.
- ↑ McConvey, Joel R. (2024-03-15). "Nigeria's Youverify receives $2.5M in funding for biometrics, AML | Biometric Update". www.biometricupdate.com. Retrieved 2025-10-17.
External links
Categories
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