Nigeria's Youverify receives investment from Saudi company
Nigeria's Youverify receives investment from Saudi company
Youverify, a provider of anti-money laundering solutions, has announced a significant investment from Elm.
Africa Private Equity News’ Connect messaging service is now free. Directly message other private equity professionals in our community.
Download the free Africa Private Equity News app: Android | iOS (or search for it in the app store)
Tap on the top-right icon to log in or register a free account
Tap on bottom-right Connect icon to start chatting
Youverify, a Nigeria-based provider of AI-driven anti-money laundering (AML) solutions, has announced a significant investment from Elm, a digital innovation and solutions company based in Saudi Arabia. This strategic partnership marks a milestone in Youverify's mission to simplify AML compliance for businesses and enhance AML risk intelligence across the globe.
Serving customers in 12 countries, Youverify's solutions help businesses to maintain compliance, secure transactions, and foster trust. The investment from Elm will enable Youverify to scale its products to additional markets, accelerating the production of its next-generation AML 2.0 products. These advancements are designed to help businesses reduce costs, increase operational efficiency, and navigate the complex landscape of global compliance standards.
“Partnering with Elm is a game-changer for Youverify and our customers,” said Gbenga Odegbami, CEO of Youverify. “Elm's strong track record in delivering innovative digital solutions aligns perfectly with our mission to provide the financial industry's most reliable and efficient global AML solutions.”
“We are excited to partner with Youverify, a company that shares our vision for leveraging technology to solve critical challenges faced by businesses today,” said Fahad bin Issa Ibrahim Al-Shathry, VP of Elm Investment. “This collaboration is a testament to our dedication to collaborating with exceptional founders through investing in a budding technology eco-system not only in the Kingdom of Saudi Arabia but also globally to drive efficiency, security, and trust.”
* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.