New fintech, ‘NowNow’, raises $13 million in seed funding
A Nigerian fintech startup, NowNow Digital Systems, said it had raised $13 million in its seed round to improve financial inclusion across Africa.
The Chief Executive Officer, NowNow, Sahir Berry, said this in a statement on Wednesday in Lagos.
Mr Berry said the seed funding would drive financial inclusion by providing financial services to the unbanked and underbanked in the continent.
He said that with the newly secured funds, NowNow would drive financial empowerment and introduce new products which would further enhance its already existing consumer banking, agency banking and merchant payment solutions.
According to him, the funding round led by NeoVision Ventures Ltd., DLF Family Office and Shadi Abdulhadi, heralds NowNow’s plans to scale and expand its service offerings across Africa.
He said that, equipped with a rapidly growing product suite and highly agile technology platform, NowNow “sought to build the world’s best technology that digitises cash payments for Africans.”
NowNow’s renewed commitment and vision is to include everyone financially, he said.
“Today we announce that we have moved to the next stage of our commitment to drive financial access and empowerment for Africans at the last mile.
“With the secured funding, we not only provide services that include everyone financially but also upscale our agile ecosystem which ensures that our multidimensional offering remains a market leader.
“The credit facility will also support our unique strategy to advance financial inclusion and independence through financial education,” he said.
According to him, the interest and backing of investors will enable the organisation to grow a world-class team as we would be unveiling innovative products and services.
Mr Berry said that NowNow was focused on solving everyday financial challenges by creating the largest fintech ecosystem in Africa as well as supporting the financial inclusion goal in the continent.
Founded in 2018, NowNow is an African digital banking platform whose mission is to deliver best-in-class financial services to SMEs, agents, and consumers.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Lagos man in court for alleged N3 million Kuwait work visa fraud
The prosecutor said the offences contravene the provisions of sections 287, 314 and 411, of the Criminal Law of Lagos State, 2015.
NationWide
NBC expands FreeTV access to mobile devices
The National Broadcasting Commission says Nigerians can now access Free TV services on mobile devices through a dedicated application, alongside satellite decoders.
Hot news Home top
Court orders ex-AGF Abubakar Malami to forfeit 48 property to FG
Justice Abdulmalik held that Mr Malami failed to show that the property were acquired through lawful sources.
Heading 2
Jamaican reggae star Fantan Mojah dies at 49
In a tribute, Ub40 Ali Campbell, described Mr Mojah’s demise as a sad development.
Heading 5
Oyo Hostages’ Release: Tinubu gave us Christmas in July, says Moyo Okediji
Mr Okediji, a professor of Art and Art History at the University of Texas, Austin, lauded the approach of President Bola Tinubu’s administration in rescuing the captives.
States
Residents beg for help as flood overruns Plateau community
Some of the residents told the Peoples Gazette that the community has been battling flooding for some years.
