The Empower Africa Business Platform is Now Live !!!
The investment comes courtesy of Elm, a Saudi Arabian investment firm known for supporting burgeoning technology ecosystems around the world.
Youverify aims to leverage this partnership to streamline Anti-Money Laundering (AML) compliance for businesses, bolster global risk assessment capabilities, and most importantly, expand its product offerings and delve into new markets.
Founded in 2018, Youverify caters to both individuals and businesses seeking verification solutions.
Individuals can utilize the platform to confirm their identities, registration status, and ownership details using reliable government data.
Businesses, on the other hand, benefit from Youverify’s extensive reach, with its services spanning over 145 jurisdictions in 48 countries – exceeding their initial target of covering 30 African nations.
Youverify’s impressive growth trajectory is further underlined by the sheer volume it handles – processing over 4 million applications monthly for a clientele exceeding 3,500 companies.
Their verification capacity has also witnessed a significant jump, growing from 400 million individuals to a staggering 5 billion.
This expansion extends to the business realm as well, with Youverify now boasting the ability to verify 600 million businesses across diverse sectors like telecoms, gaming, travel, and healthcare.
Youverify leverages the power of artificial intelligence (AI) and established mathematical models to analyze and assess risks.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Africa Data Centres, a leading provider of data center services in Africa, has secured $108.9 million in funding to expand its capacity in South Africa.
Wingu Africa, a prominent data center operator in East Africa, has secured $60 million in funding from Rand Merchant Bank (RMB) to accelerate its expansion across the region.
Mediterrania Capital Partners (MCP) and CDG Invest Growth have made a combined capital injection of $59 million into Dislog Dispositifs Médicaux (DDM), the medical device subsidiary of Dislog Group.