Lagos, Nigeria & Dubai, UAE – Aug 19 2025

Verificare, an innovative Nigerian startup pioneering decentralized data interoperability solutions, today announced a strategic partnership with FasterCapital through its EquityPilot program. This collaboration aims to accelerate Verificare’s mission to break down data silos across healthcare, transportation, academia, and governance sectors in Nigeria and beyond, unlocking a $20.4 billion total addressable market. Leveraging FasterCapital’s global reach, capital, and expertise, Verificare is poised to fast-track its product development, user onboarding, and international expansion.

Market Opportunity & Problem Statement
Nigeria’s digital economy faces significant challenges due to fragmented data systems that hinder seamless access to essential services, especially for its large diaspora population. For instance, patients in Nigerian healthcare centers endure long wait times and repetitive medical history recounting, resulting from isolated health record systems that fail to communicate. This inefficiency not only delays diagnosis but also increases risks of medical errors. With a growing demand for integrated, secure data sharing, the market for interoperable digital identity and data exchange solutions is expanding rapidly. Verificare addresses this critical gap by enabling entities to share verified data securely, positioning itself uniquely amidst a competitive landscape that lacks comprehensive decentralized platforms.

Startup Solution & Differentiation
Verificare offers a decentralized data pipeline powered by artificial intelligence and blockchain technology, facilitating secure, verified, and interoperable data sharing among entities and individuals. Its platform includes a mobile app for users and APIs for entities, supporting cross-sector data access while maintaining privacy and compliance. Verificare’s freemium model for individuals and brokerage/subscription fees for entities have already attracted nearly 12,000 pre-registered users, validating early market interest. Strategic integrations with Nigerian institutions such as NIMC and CBN further enhance its credibility and defensibility. By combining cutting-edge technology with a user-centric approach, Verificare is positioned to become a market leader in Nigeria’s digital identity and data interoperability ecosystem.

FasterCapital Partnership Value
Through the EquityPilot program, FasterCapital provides Verificare with tailored mentorship, strategic guidance, and access to international investor networks, accelerating its product development and go-to-market strategy. FasterCapital’s rigorous selection process ensures that only high-potential startups with scalable solutions and strong founding teams are admitted, underscoring Verificare’s quality and growth potential. This partnership also facilitates capital-raising efforts, with Verificare targeting $300,000 to finalize product development, expand its database, and scale operations. The collaboration is expected to shorten Verificare’s path to market leadership while enhancing its global competitiveness.

Executive Quotes
Hesham Zreik, Founder & CEO of FasterCapital, stated:
“Verificare exemplifies the kind of innovative, impactful startup that aligns perfectly with FasterCapital’s mission to empower visionary entrepreneurs. Their decentralized approach to data interoperability addresses a critical need in emerging markets, and we are excited to support their journey towards transforming Nigeria’s digital economy.”
Azeez Bayo, CEO of Verificare, commented:
“Partnering with FasterCapital through the EquityPilot program is a pivotal milestone for Verificare. Their global expertise and resources will accelerate our ability to deliver secure, interoperable data solutions that empower Nigerians at home and abroad. Together, we aim to unlock new opportunities for service access and economic participation across multiple sectors.”

Growth Trajectory & Future Plans
Verificare plans to deploy its platform and onboard individual users by Q1 2026, followed by onboarding entities in Q2 2026. By Q3 2026, the startup aims to fully develop its product and initiate integration with international entities. The $300,000 funding round will support marketing, infrastructure, compliance, and product enhancement efforts. Long term, Verificare envisions becoming the leading decentralized data marketplace in Africa, driving interoperability and digital inclusion on a global scale.

About Verificare
Founded by DevOps Engineer Azeez Bayo, Verificare is a Nigerian startup focused on enhancing interoperability for entities through a decentralized data pipeline leveraging AI and blockchain. The company’s mission is to eliminate data silos that limit digital economy participation, enabling seamless, secure data sharing across healthcare, transportation, academia, and governance sectors.

About FasterCapital
FasterCapital is a global startup accelerator and venture capital firm that empowers early-stage technology startups through its EquityPilot program. With a selective admission process, FasterCapital offers mentorship, funding, and access to a worldwide investor network, helping startups scale rapidly and achieve market leadership.