DEAL: Nigerian fintech startup NowNow raises $13 million in seed funding
nigerian fintech startup, NowNow Digital Systems has raised $13 million in its seed round to improve financial inclusion across Africa by providing financial services to the continent’s unbanked and underbanked. The funding round led by NeoVision Ventures Ltd., DLF Family Office and Shadi Abdulhadi heralds NowNow’s plans to scale and expand its service offering across Africa.
With the newly secured funds, NowNow says it will drive financial consolidation as well as introduce new products that will further enhance its already existing consumer banking, agency banking and merchant payment solutions.
Equipped with a rapidly growing product suite and highly agile technology platform, NowNow seeks to build the world’s best technology that digitizes cash payments for Africans.
What they say
A comment on the collection, CEO and co-founder of NowNow, Sahir Berryso: “Today we announce that we have moved to the next phase of our commitment to drive financial access and empowerment for Africans in the last mile. With the secured funding, we look to not only offer services that are inclusive of everyone financially, but also scale up our agile ecosystem that ensures our multi-dimensional offering remains the market leader. The credit facility will also support our unique strategy to promote financial inclusion and independence through financial education. The interest and support of our investors will enable us to expand our world-class team as we unveil innovative products and services.”
Capital V Ltd managing partner Gary Peters said: “One of the key elements that led us to invest in NowNow through one of our funds is based on the perseverance of the founders to grow the company to a viable level, as well as overcoming many challenges and market cycles since its inception in 2018. core business and vision to digitize it African region by facilitating daily payment services is also another important element. Every time we meet a business founder like Sahir Berry, whose leadership vision aligns with Capital V’s fund of funds strategy to support disruptive startups with high potential, especially in emerging markets like Africa, the decision-making process becomes easier.”
NowNow is focused on solving everyday financial challenges by creating the largest fintech ecosystem in Africa, as well as supporting the financial inclusion goal on the continent. The innovative fintech platform was recently selected to participate in the Mastercard Start Path Global program created to help later-stage startups innovate and scale.
