Entrepreneurship

Nigerian Fintech Startup, TeamApt Looking to Raise $150m at $1bn Valuation

TeamApt, a Nigerian fintech startup, is looking to raise about $150 million that will value the company at more than $1 billion.

The founder and Chief Executive Officer of TeamApt, Tosin Eniolorunda told Bloomberg in an interview. According to the CEO, the startup is generating interest from venture capital investors from the U.S. and Europe. 

Read:  Lagos begins Agric-YES Summer School for public school students

“The money will be used for our expansion to Egypt, Ghana, and Cameroon,” said Eniolorunda. “And building out our digital banking product targeted at the under-served.”

If TeamApt eventually raises funding, it will join Flutterwave and OPay as the Nigerian fintech startups with over a billion-dollar valuation.

Read:  Agriculture: NGROPPMAN Meets Netherlands Consulate-General, As Nigeria’s Groundnut Hits Global Market

TeamApt now processes $3.5 billion in transaction values monthly, with 150,000 agents on its platform, and has 14 million users, Eniolorunda said.

Source: techawkng

Related posts

Chooya Receives $950,000 In Cash, Programme Support From Entrepreneurship World Cup, Misk Global Forum.

NigGal

UBA promotes female entrepreneurship

NigGal

Nigerian mobility startup Shuttlers raises $4m funding to fuel growth.

NigGal

Elumelu Foundation grants SMEs multi-billion naira funds.

NigGal

What It Takes to Be a Successful Entrepreneur.

NigGal

Nestlé engages 5,000 farmers to boost local grain supply chain.

NigGal

Leave a Comment