Youverify, a Nigerian provider of identity verification and anti-money laundering (AML) solutions, has secured a $2.5 million investment from Elm, a digital solutions company in Saudi Arabia. The investment includes a strategic partnership to enhance AML compliance, global risk intelligence, and product expansion. Since 2022, Youverify has broadened its business verification coverage to 145 jurisdictions across 48 countries and expanded individual verification coverage to 46 countries. Despite currently serving commercial customers in 12 countries, the platform processes 4 million monthly applications for over 3,500 businesses with 800 active clients. Youverify's CEO, Gbenga Odegbami, highlighted the company's expanded capacity to verify IDs and introduced anti-money laundering and risk classification products. The surge in financial services across Africa has heightened the need for stringent measures to combat identity theft and fraud, driving demand for regulatory technologies. Youverify's collaboration with regulators across various markets has honed its proficiency in compliance and cultural sensitivity, reflecting the increasing global importance of the governance, risk management, and compliance market. Elm Investment VP, Fahad Al-Shathry, expressed excitement about the collaboration, emphasizing the dedication to leveraging technology to solve critical business challenges.