# Mainline Digitech Innovations

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mainline-digitech-innovations

- Industry: Software
- Headquarters: Lagos, Nigeria
- Website: www.myidentitypass.com
- Total disclosed funding: $2.9M
- Latest round: Seed (May 11, 2022)
- Investors on record: 7

## About

Mainline Digitech Innovations Limited, based in Lagos, Nigeria, specializes in AI-driven identity verification solutions, facilitating compliance and fraud prevention for businesses in emerging markets.Founded in 2021 and headquartered in Lagos, Nigeria, Mainline Digitech Innovations Limited focuses on providing innovative identity verification services. The company has successfully completed 3 deals, with its latest funding round taking place on May 11, 2022. This round was a Seed round that raised USD 2.8 mn, led by MaC Venture Capital and supported by other investors including Sherwani Capital, Soma Capital Management, and Y Combinator. The firm's founders include Lanre Ogungbe and Niyi Adegboye, who have a background in technology and entrepreneurship.Identitypass specializes in AI-powered identity verification solutions designed to serve businesses across emerging markets. Their core offerings include the Identity Graph and Identity Radar. The Identity Graph is a digital infrastructure that helps users analyze relationships and digital footprints linked to any identity, while the Identity Radar provides real-time monitoring of transactions to detect and prevent fraudulent activities during customer onboarding. These products cater to a diverse client base that includes financial institutions, e-commerce platforms, and other organizations requiring robust identity verification to comply with local and international KYC/AML regulations. Identitypass verifies over 6,000 government-issued identity documents from more than 190 countries, making their services applicable in regions worldwide, including Asia, Africa, and Latin America.Identitypass generates revenue through a subscription-based model, allowing businesses to access their verification services via API integrations. By signing up on their portal, clients obtain API keys that grant them access to various verification endpoints, facilitating seamless integration into their existing systems. The firm's pricing structure accommodates different client needs, likely offering tiered plans that provide varying levels of access and features based on transaction volumes or service levels. Customers can monitor verification activities and manage their usage through a merchant dashboard, enhancing the user experience and encouraging continued engagement with the platform's offerings. The company’s flagship products, including the Identity Graph and Identity Radar, are central to this revenue model by delivering essential services that address fraud prevention and compliance needs.In May 2022, Mainline Digitech Innovations Limited raised USD 2.8 mn in Seed funding to expand its suite of products and reach new markets. The company plans to develop additional identity verification solutions to enhance its platform capabilities. The funding will support these initiatives and facilitate expansion into targeted regions, including further penetration in emerging markets across Africa and Asia. The company's strategy emphasizes leveraging its recent funding to enhance product offerings and extend its geographic presence.

## Funding rounds

- Seed, May 11, 2022, $2.8M — Y Combinator, Soma Capital Management, True Cresset, MaC Venture Capital, Unpopular Ventures, Vastly Valuable Ventures, Sherwani Capital
- Seed, Jan 4, 2022, $0.1M — Y Combinator

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Seed
- True Cresset — Seed
- MaC Venture Capital (https://capitalatlas.ai/funds/mac-venture-capital) — Seed
- Unpopular Ventures (https://capitalatlas.ai/funds/unpopular-ventures) — Seed
- Vastly Valuable Ventures (https://capitalatlas.ai/funds/vastly-valuable-ventures) — Seed
- Sherwani Capital (https://capitalatlas.ai/funds/sherwani-capital) — Seed