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Youverify, OnePort selected for 2021 VC4A Venture Showcase – Seed & Series A Tracks

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VC4A Venture Showcase

VC4A has selected 16 African companies for its Venture Showcase — Seed and Series A, with Youverify and OnePort being the only startups from Nigeria.

The companies participating in the VC4A Venture Showcase programme were selected from about 1,000 applicants, by a 72-member committee of venture capitalists.

Among others, these investors include Plug and Play, Seedstars Ventures, Goodwell Investments, Lofty Inc, Kappafrik, Shell Foundation, 4Di Capital, Kalon Venture Partners, Saviu Ventures, Compass Venture Capital, Kuramo Capital Management, Blue Haven Initiative, Mercy Corps Ventures, AAIC Partners Africa, HAVAIC, Newtown Partners, Accion, FINCA Ventures, Factor[e] Ventures, LeapFrog Investments, EchoVC, GreenTec Capital Partners and AfricInvest.

The selection criteria included the startups’ demonstration of strong revenues and competitive edge, positioning for regional and international expansion, and important innovations in the healthcare, finance, transport, commerce and education sectors being worked on.

The selected startups are tech-enabled companies with existing innovative products or services available in one or more African markets.

While Youverify was the only Nigerian startup in the Series A track portfolio, other startups include Alpha Direct Insurtech, Arifu, Chari Co, Cinetpay, CloudFret, Fatura and Rology.

Founded by Gbenga Odegbami in 2017, Youverify helps businesses and individuals confirm identity and physical addresses.

Youverify

Youverify homepage

The company leveraged artificial intelligence to confirm user identity documents, comparing it with their facial biometrics. This information can be cross-checked against more than 300 databases locally and globally.

Among the Seed track portfolio was OnePort Inc. from Nigeria.

The company is a digital freight forwarding platform that offers instant freight quotation across several services including ocean freight rates in multiple carriers, customs brokerage and terminal handling rates, Inland Haulage – truckload, barge and rail services, pay as you go and off-dock warehousing, trade financing and end-end visibility on the containerised shipment for SMEs.

OnePort

OnePort’s logo

The company was founded by Hio Sola-Usidame in 2019 and has been optimising trade processes in Africa with technology ever since.

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Other African startups were Appload, CashBackApp, FlexPay, Moja Ride, SAYNA, ShipBlu and Waya Limited.

Located in countries varying from Kenya, Egypt, Ghana, Morocco, Botswana, among others, these startups were from across the insurtech, edtech, retail and wholesale, fintech, transport and logistics health tech and software-as-a-service sectors.

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VC4A is focused on connecting startup entrepreneurs with the knowledge, support programmes, mentors and investors they need to succeed.

Over the next six weeks, the selected startups will participate in a virtual investor readiness programme to prep them in fundraising for #AESIS2021.

The workshops will be led by recognised African investors such as Aaron Fu of Catalytic Fund, Aniko Szigetvari of Atlantica Ventures, Gregoire de Padirac of Orange Ventures and Andrea Bohmert of Knife Capital, as well as experts and high profile guest speakers.

The entrepreneurs will also be linked to top VCs and angel investors for one-on-one mentorship, with a chance to partake in rounds ranging between $400,000 and $20,000,000.

The founders will showcase their businesses to investors during the Africa Early Stage Investor Summit in November 2021, an event organised by VC4A and the African Business Angels Network (ABAN).

​Joan Aimuengheuwa is a content writer who takes keen interest in the scopes of innovation among African startups. She thrives at meeting targets and expectations. Contact: [email protected]

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