DOB Equity and FCA make seed investment in Ugandan fintech

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DOB Equity and FCA Investments have teamed up to make a seed investment in a B2B fintech based in Uganda. The two investment firms are backing the startup, Laboremus, with an undisclosed amount of capital which will be used to expand into new markets and add new channels and verification services to its customer offering. These will include services such as ID verification or Customer KYC verification using government ID registries, including the use of biometrics.

The startup, whose clients include banking firms like Standard Chartered, Equity Bank, dfcu Bank, and pan-African fintech Wave, enables its customers verify their clients’ identities and onboard them at scale. The business’s SaaS solution combines Know Your Customer data, Anti Money Laundering checks, and customer interaction for onboarding, making service to the unbanked population more cost-effective, even in the most rural parts of the region.

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