New post Need visibility? Apply for a FREE post for your Startup.  Apply Here

Startups

Nigerian startup – Regfyl – secures $1.1m in its pre-seed round

1 Mins read

Regfyl, a cutting-edge compliance solutions provider, has successfully raised $1.1 million in pre-seed funding. This injection of capital, led by Rally Cap Ventures, marks a pivotal moment for the Lagos-based startup. The startup aims to expend the funds to reshape the landscape of digital trust and security across Africa.

Founded in 2023 by visionaries Tunde Ibidapo-Obe and Tomiwa Erinosho, Regfyl has established itself as a one-stop shop for businesses faced with the complexities of digital identity verification, fraud detection, and regulatory compliance. The company’s innovative platform serves as a digital guardian, safeguarding financial institutions and their customers in an era where online fraud has cost Nigerian banks a staggering $25.7 million in just one quarter of 2024.

Trust is the currency of the digital economy,” Tunde Ibidapo-Obe, Regfyl’s CEO, said. “We’re building the operating system that will underpin this trust across the continent.”

With a client roster that includes fintech heavyweights like Cowrywise and PiggyVest, Regfyl distinguishes itself by offering a comprehensive suite of tools that streamline everything from customer onboarding to regulatory reporting. This approach sets Regfyl apart in a competitive market where rivals typically focus on singular aspects of compliance.

What we have done is to look at what the job of the compliance manager is and we have essentially brought all of it in one operating system,” said Erinosho.

Read also: CleverTap Launches Product Experiences for Optimizing App and Web User Experience

The fresh funding will push Regfyl’s expansion plans, and paving the way for new innovations, including a supply chain compliance product. As digital economies continue to evolve, Regfyl’s growth signals a promising future for African-led solutions in the global fight against financial fraud and cybercrime.

Don’t miss any tech news ever!

We don’t spam! Read our privacy policy for more info.

870 posts

About author
When I'm not reading about tech, I'm writing about it, or thinking about the next weird food combinations to try. I do all these with my headphones plugged in, and a sticky note on my computer with the words: "The galaxy needs saving, Star Lord."
Articles
Related posts
Startups

EdTech startup - Tespire - set to announce pre-seed funding

1 Mins read
EdTech startup, Tespire, an innovative startup born in Nigeria’s Northern region, is getting ready to announce the completion of its pre-seed funding…
Startups

8 African startups make TechCrunch's Startup Battlefield 200

1 Mins read
Eight innovative startups operating in Africa have secured coveted spots in TechCrunch’s Startup Battlefield 200 for 2024. This global competition which is…
Startups

Uber-backed Nigerian startup - Moove - eyes expansion into U.S. market

1 Mins read
Moove, the Nigerian vehicle financing startup backed by Uber, is making plans for a major expansion into the United States. The company,…
Newsletter Subscription

🤞 Don’t miss any update!

We don’t spam! Read more in our privacy policy

Join our Telegram channel here - t.me/TechpadiAfrica

Leave a Reply

×
ArticleForeign startupsRandom

DailyObjects Raises $10M In New Funding Round