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TeamApt in the market to raise $150,000,000 valued at $1,500,000,000

Being its third round of funding, TeamApt is currently in the market raising the funds with commendable expectations and is already getting interests from venture capital investors in the United States and Europe.

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Tosin Eniolorunda, founder and CEO, TeamApt
Tosin Eniolorunda, founder and CEO, TeamApt

Nigerian fintech startup TeamApt, is set to join the African unicorns through a raise of $150,000,000 valued at $1,500,000,000.

Being its third round of funding, of which one was completed five months agoTeamApt is currently in the market raising the funds with commendable expectations and is already getting interests from venture capital investors in the United States and Europe.

According to the Founder and Chief Executive Officer, Tosin Eniolorunda, the funds will be used to build branches in Egypt, Ghana and Cameroon, and also, develop its digital banking product targeted at the underserved.

Founded in 2015, TeamApt is an agency banking operator focused on building the largest digital bank offering financial services products tailored to meet the needs of the underserved mass market. The company leverages technology and low cost offline distribution models to offer products including micropayments, savings, lending, insurance, pensions.

The company’s initial approach was to make financial services seamless by creating financial solutions aimed at optimising the operations of partner banks and financial institutions. 

Its focus was on improving the experiences of the customers and businesses that these institutions served. Within a period of two years, TeamApt was already servicing 26 financial institutions.

Almost six years later, TeamApt affirms to be processing $3.5 billion in month-on-month transactions, has 150,000 agents on its platform, and 14,000,000 users.

The success of the fundraise will enable TeamApt to join Flutterwave, OPay and Jumia Technologies AG, valued at over $1 billion.

 

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​Joan Aimuengheuwa is a content writer who takes keen interest in the scopes of innovation among African startups. She thrives at meeting targets and expectations. Contact: [email protected]

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