Youverify is a San Francisco and Lagos-based B2B technology company specializing in compliance automation, identity verification, and anti-money laundering (AML) solutions. The company provides Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) products designed to help banks, fintechs, marketplaces, and other regulated businesses automate Know Your Customer (KYC), Know Your Business (KYB), Know Your Employee (KYE), and Know Your Transaction (KYT) processes. Youverify’s mission is to enable businesses to build economic relationships without compliance worries, delivering innovative RegTech solutions that simplify onboarding, mitigate fraud, and ensure global regulatory compliance.
Founded in 2018 by CEO Gbenga Odegbami, Youverify entered the African RegTech scene by offering APIs for address and identity verification to financial institutions in Nigeria. The company quickly expanded its product suite to include transaction monitoring and risk intelligence, addressing the growing needs of fintech platforms facing AML and fraud challenges. Over the years, Youverify has grown its client base by 300%, now serving over 3,500 businesses-including 400+ banks and high-growth startups-across 12 countries. The company processes more than 4 million applications monthly, a dramatic increase from the 5 million processed annually in 2022.
Youverify has raised a total of $6.5 million to date, with notable funding rounds including a $1.5 million seed round in 2020 and a $2.5 million pre-Series A investment in 2024 led by Elm, a Saudi Arabian digital solutions firm. This latest funding round not only injected capital but also established a strategic partnership to enhance AML compliance and expand Youverify’s offerings into new markets. The company’s enterprise valuation is estimated between $10–15 million as of March 2024.
The company has moved beyond financial services to serve sectors such as gaming, travel, healthcare, telecommunications, and the gig economy. Its verification capacity has grown from 400 million to 5 billion individuals and 600 million businesses, reflecting its ambition to be a global leader in identity and risk management.
Recent innovations include the relaunch of the Workflow Builder, which offers greater flexibility and ease of use for clients customizing onboarding and compliance processes. The liveness detection feature has been enhanced to provide robust protection against biometric fraud, and the platform’s risk intelligence tools now offer more granular, real-time monitoring and regulatory reporting capabilities. These updates position Youverify at the forefront of RegTech, anticipating regulatory changes and client needs.
Youverify emphasizes a culture of openness, honesty, ownership, and responsibility. The company is committed to employee well-being, offering competitive salaries, hybrid work arrangements, spousal and transportation allowances, and a supportive environment for growth and learning. The core values focus on delivering the best experience for partners, simplifying processes, and maintaining transparency-even in challenging situations. Employee testimonials highlight strong team ethics, work-life balance, and pride in contributing to the company’s mission.
Youverify’s user base is diverse, spanning banks, fintechs, insurance companies, ride-hailing platforms, and gig economy marketplaces. The company serves over 3,500 commercial customers, with 800 active clients, and processes millions of verifications monthly. Its digital identity platform, YouID, has attracted more than 500,000 users, with a growing marketplace of 600 service providers. The company maintains a strong community focus, engaging with regulators, partners, and clients to address compliance challenges across Africa, the Middle East, and beyond.
Youverify
By Youverify
