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In Brief: VerifyMe Nigeria secures Series A financing from Consonance Investment Managers

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In Brief: VerifyMe Nigeria secures Series A financing from Consonance Investment Managers

VerifyMe Nigeria, an ID verification and KYC technology company has secured a Series A financing for an undisclosed amount from Consonance Investment Managers.

The funds will be used to expand strategic partnerships and bring new digital ID verification products to market.

“We are delighted to partner with Consonance Investment Managers in our mission to build Africa’s KYC infrastructure. Digital services are a key catalyst for Africa’s economic growth and financial inclusion, but they can only be unlocked if there’s a mechanism to verify identity at scale. We strive to transform the digital landscape by providing businesses with KYC-as-a-service tools to verify their client identities,” said Esigie Aguele, VerifyMe Co-founder/CEO.

Read: Kenyan Startups Raised a Record US$187.4M in 2019 Over 41 Disclosed Deals

“Authenticated identity is a critical foundation of digital commerce and financial services; it’s the cornerstone of trust which is essential for collaboration in economies. We believe that Tunji, Esigie and the VerifyMe team are doing work that is pivotal to meeting Nigeria’s financial and digital inclusion goals. We are proud to support their vision and journey,” said Mobolaji Adeoye, Managing Partner at Consonance Investment Managers.

VerifyMe plans to expand adoption across Nigeria and grow revenue twenty-fold over the next three years. A company with a social mission, VerifyMe will help unlock financial inclusion and intervention services in rural communities.

 

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