Identitypass, a Nigerian KYC startup, has been selected for Y combinator’s winter 2022 batch. The startup disclosed this on its Twitter handle.
Founded in January 2021 by Lanre Ogungbe, Niyi Adegboye, and David Obi, Identitypass allows digital businesses to verify their customers within seconds. What this means is that startups do not need to demand utility bills et al before they are able to verify their customers. It currently powers verification for over 170 businesses and it recently raised $360,000 for the expansion of its team and the development of its product.
Y Combinator (YC) is one of the most prestigious accelerators in the world. Admitting startups twice a year (winter and summer), it offers intensive training to selected early-stage startups and invests $125,000 for a 7% equity. Startups have the opportunity to raise further investments upon graduating from the accelerator. Since its inception, over 3,000 startups have received investment from YC.
Identitypass joins a long list of Nigerian startups that have joined YC including Mono, Blueloop – Flux, Prospa, Flutterwave, Sendbox, and Vendease among many others.
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