Costanoa Ventures and Norrsken22 back Smile Identity in $20M Series B round

The importance of KYC and identity verification in an increasing fintech landscape like Africa’s cannot be overemphasized. As thousands of financial institutions serve millions of Africans, stringent regulatory requirements are needed to keep hackers and fraudsters at bay, which is why investor interest in startups offering KYC and identity verification services is intensifying.
Smile Identity, a significant player providing ID verification and KYC compliance for African faces and identities, highlights this trend. It just received $20 million in Series B funding to further its expansion plans

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