Nigerian identity verification startup IdentityPass raises $2.8 million seed fund

Lagos-based identity verification startup, IdentityPass has raised a $2.8 million seed fund to expand its infrastructure, strengthen security and data collection, hire more talents and enter into new African markets.

• The startup has earlier raised $350,000 pre-seed to reach $3.1 million in total funding.
• Launched in 2020, Identitypass currently has 200 e-commerce, fintech and education businesses in Nigeria, Kenya, India, the UK and the US connected to 18 data points to verify their customers' data.
• Since it launched, the KYC platform has verified over 1 million customer data across businesses.
• The seed funding round was led by MaC Venture Capital with participation from Y Combinator, Soma Capital, True Capital Fund and Sherwani Capital among others.