As part of efforts to build Africa’s Know Your Customer (KYC) infrastructure, VerifyMe Nigeria, an ID verification and KYC technology company has secured a Series A financing from Consonance Investment Managers.
The Co-founder and Chief Executive Officer (CEO), Esigie Aguele who made the disclosure said the funds would be used to expand strategic partnerships and bring new digital ID verification products to market.
According to him, Digital services are a key catalyst for Africa’s economic growth and financial inclusion; but can only be unlocked if there’s a mechanism to verify identity at scale.
Aguele further disclosed plans of VerifyMe to expand adoption across Nigeria and grow revenue twenty-fold over the next three years and as well unlock financial inclusion and intervention services in rural communities.
Managing Partner at Consonance Investment Managers, Mobolaji Adeoye also described authenticated identity as a critical foundation of digital commerce and financial services; stressing that it’s the cornerstone of trust, which is essential for collaboration in economies.