Nigeria’s Regtech startup Youverify expands to Kenya

Youverify, the regtech firm constructing full-cycle international compliance merchandise for companies has expanded its operations into the Kenyan market. The corporate which gives progressive compliance options goals to rework the best way organisations navigate the complexities of regulatory necessities.

The growth is a part of the corporate’s worldwide market growth plans which has seen the agency develop to Ghana, South Africa, Côte d’Ivoire and Uganda.It additionally follows a seed increase of US$1 million in seed extension funding in August final yr to take the entire dimension of its spherical to US$2.5 million.

Talking through the launch,  Gbenga Odegbami, CEO and Co-Founder, Youverify stated “Increasing our merchandise and options to Kenya is a strategic transfer that has all the time been within the works. Having completely studied the compliance panorama in Kenya, we imagine the market is ripe for our superior expertise.’’

‘’Increasing our product choices to Kenya aligns completely with our imaginative and prescient to drive monetary innovation on a world scale. As we convey our cutting-edge expertise and experience to the Kenyan market, we intention to revolutionize the best way companies strategy compliance,” he added. 

When Youverify first launched in Nigeria in 2018, it solely offered API for tackle and id verification to a number of monetary establishments. Over time, the corporate has added extra Know Your Buyer (KYC), Know Your Enterprise (KYB), Know Your Transaction (KYT), Know Your Worker (KYE), Hostile Media Screening and Threat Intelligence Resolution options to its providing. 

“We’re excited to increase our services and products to Kenya. For lengthy, now we have had our sight on the nation’s quickly evolving monetary sector and dedication to regulatory reform. This creates the right ecosystem for regtech service suppliers like ours to thrive and empower Kenyan companies to fulfill regulatory necessities effectively and scale confidently.” Dimitri Kanellopolus, Chief Govt (EEMEEA, APAC), Youverify who was additionally current on the launch occasion stated. 

The choice to enter the Kenyan market comes as a part of Youverify’s dedication to addressing the rising demand for efficient regulatory options in rising economies. The copany goals to offer Kenyan companies with the instruments and experience essential to navigate the advanced regulatory panorama, in the end fostering belief, transparency, and sustainable progress.

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