Nigerian digital compliance and security company, Identitypass, has secured $360,000 in pre-seed funding, which would be used to expand the team, serve and get more customers including research and development.
The funding round saw the participation of CCHub, Midlothian Angel Network, D Global Ventures Fund and other Angel Investors.
Launched in January 2021 by Mr Lanre Ogungbe, Mr Niyi Adegboye and Mr David Obi, Identitypass has been noted to deliver seamless identity verification solutions to various businesses.
The platform provides easy-to-use compliance and data security platform that allows businesses online to easily authenticate and validate the genuineness of a transacting party.
This is done through the existing forms of identification ranging from personal traits to government-issued identity cards to every bit of data that can help uniquely identify individuals and businesses while dealing with people, money and data in an easy, secure and faster way.
With a variety of products that include identity checker, Identity graph, Identity form and biometrics technologies, Identitypass is currently powering the verification engine or solution for over 170 businesses but hopes to power more businesses in the coming quarters with upcoming verification products.
The firm has also established strategic partnerships to make its product usage kick off in multiple continents, such as America and Asia.
According to the company, its operation is set on a vision is to build a world-class compliance and security infrastructure for Africa free from identity theft and compliance bottlenecks.
And the new fund generated would be used by the company for customer acquisition, research and development, and team expansion.
Speaking on the development, the Chief Executive Officer (CEO) of Identitypass, Mr Lanre Ogungbe, noted that the organisation aims to achieve more with modern products that do not only keep businesses secured but also secures every internet user in the region.