VerifyMe Nigeria

What VerifyMe Nigeria does

VerifyMe Nigeria is a digital identity verification and KYC technology company headquartered in Lagos, Nigeria, founded in 2011 by Olutunji Oluwole and operating as Verify Me Nigeria Limited. The company serves financial institutions, telecoms, HR departments, e-commerce platforms, logistics firms, estate managers, and sports betting operators with a portfolio of verification services covering identity, address, employment history, guarantor, and credential checks. Its product portfolio comprises three core offerings: Pluto, a self-serve background check and identity verification portal for individuals and small businesses; QoreID, a B2B API platform enabling enterprises to embed KYC and verification workflows into their own products via a single endpoint with no-code VeriLinks; and GOVA, a network of over 20,000 verification agents across Africa that conducts physical address and credential verification.

The underlying technology combines AI-powered facial recognition and biometric matching, proprietary 4D GIS geolocation that fuses GPS coordinates, photographs, phone data, and environmental signals for address verification, microservices architecture, and direct integrations with Nigerian government identity databases (NIMC for NIN, FRSC for driver's license). The company holds an identity verification licence (obtained 2017) and NIMC-approved NIN enrolment partner status (2020), creating regulated access to official identity infrastructure.

VerifyMe generates revenue through three streams: per-verification fees collected via an e-wallet prepayment system, enterprise B2B API licensing via QoreID on subscription terms, and transaction-based fees through the GOVA agent network. Distribution is multi-channel: enterprise direct sales for banks and telcos, self-serve via the Pluto portal for SMBs and individuals, API integration via QoreID for developers, and a distributed agent network for physical verification. The company has reported 500M+ identities verified, 400K+ addresses verified, 10K+ customers onboarded, and 30% of Nigerian commercial banks as clients.

Name

VerifyMe Nigeria

Legal name

Verify Me Nigeria Limited

Website

https://verifyme.ng

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

VerifyMe Nigeria is a digital identity verification and KYC technology company serving financial institutions, telecoms, and other regulated African industries through Pluto, QoreID API, and a 20,000+ agent verification network.

Ownership category

akta.pro rank

Product category

Identity Verification and KYC Technology

NAICS

Investigation and Personal Background Check Services (561611)

akta.pro primary industry

Identity Verification, Proofing & KYC (IDV) (HDAEAJAI)

akta.pro secondary industry

Data, Evidence & Document Verification (IDV) for KYC (FSAMAMAN)

Keywords

• Identity verification services
• KYC compliance platform
• Address verification technology
• Biometric authentication solutions
• Background check API

Headquarters

HQ city

Lekki

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Revenue model

1. Verification Service Fees: The primary revenue stream comes from per-verification fees charged to clients. Clients prepay by funding an e-wallet on the platform, and fees are deducted per verification completed. For email verifications, services are available 5 business days per week; API verifications are available continuously. International transactions include an additional 3.9% transaction fee plus VAT.
2. B2B Platform Licensing (QoreID): Revenue from licensing the QoreID B2B platform to enterprises for integrating verification services into their own products and workflows. This includes API access, custom integration support, and enterprise-level service agreements.
3. Agent Network Services: Revenue generated through the GOVA agent network which provides physical verification services across Africa, with over 20,000 agents conducting address and credential verifications.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

VerifyMe Nigeria operates a digital identity verification and KYC technology platform that enables businesses to verify the identities, addresses, employment histories, and credentials of individuals in real time. The company's offerings are delivered through three interconnected channels: Pluto (a self-serve background check and ID verification portal), QoreID (a B2B API platform for KYC integration), and GOVA (a network of over 20,000 field agents conducting physical address and credential verification across Africa).

Product overview

VerifyMe Nigeria operates as a digital identity verification and KYC technology company offering a portfolio of interconnected products. The core offerings include Pluto (background check and identity verification solution for individuals and small businesses), QoreID (B2B API platform for enterprise KYC integration), and GOVA (agent network for last-mile verification). The company provides verification services across identity, address, employment, and guarantor verification, powered by integrations with government databases (NIMC, FRSC) and proprietary 4D GIS technology.

Differentiator

Problem solved

Functional benefit

Brands

• QoreID: B2B platform for KYC and compliance integration, providing one endpoint for all verification needs.
• Pluto
• GOVA

Products and services

• Pluto

Quantifiable outcome

• Enables verification from days to minutes
• +2 more outcomes

Named customers4 records

Segments7 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability5 records

Feature7 records

Partnerships

Five partnerships are on record, tiered core and strategic.

• Federal Road Safety Corps (FRSC)coreTechnology or Integration · 1 January 2023Partnership for real-time driver's license authentication over API, enabling instant verification of driver's license validity through government databases.
• Unity BankcoreChannel Partner/ Reseller/ Distributor · 1 January 2021Signed as a customer for address verification services, utilizing VerifyMe's Verifind solution for customer onboarding and compliance.
• Diamond BankcoreChannel Partner/ Reseller/ Distributor · 1 January 2021Signed as a customer for address verification services, utilizing VerifyMe's verification platform for KYC compliance.
• National Identity Management Commission (NIMC)coreTechnology or Integration · 1 January 2020Official NIN (National Identification Number) enrollment partner, approved by NIMC to conduct identity enrollment services and access government identity databases for verification purposes.
• JobbermanstrategicStrategic or Co-development Partner · 1 January 2020Partnership to boost capacity in last-mile authentication, combining VerifyMe's verification technology with Jobberman's recruitment and HR expertise to provide comprehensive employee verification services.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Smile Identity: Pan-African digital KYC and identity verification provider offering biometric authentication, document verification, and AML screening. Direct competitor to VerifyMe's QoreID across Nigeria, Kenya, and South Africa, with comparable API-first GTM.
• Youverify: Nigeria-headquartered identity verification and AML screening platform serving banks, fintechs, and telcos. Competes head-to-head with VerifyMe/QoreID on BVN/NIN verification, AML screening, and address verification for Nigerian financial institutions.
• Prembly: Africa-focused identity verification, KYC/AML compliance, and background check provider. Direct competitor to VerifyMe across multiple African markets with similar government-database integrations and API offerings.
• Dojah: Nigeria-based KYC and identity verification API platform serving fintechs and lenders. Competes with VerifyMe/QoreID on NIN/BVN verification, face matching, and address lookups for the same customer base.
• Identitypass (by Mono): West African identity verification and compliance platform offering KYC, KYB, and AML checks. Direct competitor to VerifyMe in Nigeria and Ghana with overlapping bank and fintech customers.

Broad incumbents

• Trulioo: Global identity verification platform covering 195+ countries with KYC, AML, and business verification. Competes with VerifyMe on cross-border enterprise deals for multinationals operating in Nigeria/Africa.
• Onfido: Global AI-based digital identity verification provider offering document and biometric verification. Competes with VerifyMe's facial liveness detection and ID authentication features, with broader geographic coverage.
• Jumio: End-to-end identity verification and eKYC platform with biometric authentication and AML screening. Competes with VerifyMe in financial services and telco verticals, with larger enterprise footprint and broader feature set.
• Veriff: AI-powered identity verification company offering document verification, biometric checks, and fraud prevention. Overlaps with VerifyMe's Pluto and QoreID offerings for international enterprises seeking Africa coverage.
• Persona: Configurable identity verification platform serving fintechs and digital businesses globally. Competes with VerifyMe/QoreID on API-first KYC for international fintech customers expanding into African markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/officialVMN
• YouTubeyoutube.com/channel/UCdFBMK_PTYS9KL06L-MrEJg
• Facebookweb.facebook.com/verifymenigeria
• LinkedInlinkedin.com/company/3135154
• Instagraminstagram.com/verifymenigeria

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VerifyMe Nigeria