• About
  • Advertise
  • Careers
  • Contact Us
Monday, July 14, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Business StartUPs

With $3.6 million pre-Series A investment, CrowdForce seeks to scale financial inclusion solutions

by Joan Aimuengheuwa
February 16, 2022
in StartUPs
0
UBA
Advertisements

One of the companies thriving to ensure financial inclusion is CrowdForce. The startup’s efforts will be facilitated with its $3.6 million pre-Series A investment led by Aruwa Capital Management.

Added to expanding its team, geographical operations and marketing to increase its 7,000-strong active agent network three-fold this year, the equity-and-debt round, which also included participation from HAVAÍC and AAIC, will enable CrowdForce to distribute more point of sale terminals to its partners in the next 12 to 18 months, scaling its financial services within one kilometre, or within 15 minutes, of all Nigerians. 

CrowdForce is boosting seamless access to critical financial services, with emphasis on the underserved. The company is actively doing this through its products and services offering, with its proprietary technology and extensive agent distribution network across the country, enhancing its unique competitive advantages.

Launched by Oluwatomi Ayorinde and Damilola Ayorinde, crowd Force leverages partnerships with larger brick-and-mortar businesses such as gas stations and turns them into mobile bank branches that offer float services while storing their cash on a PayForce digital wallet.

The fintech company distributes its POS terminals to businesses such as pharmacies and reseller networks. So far, it has partnered with 19,000 fuel stations, 20,0000 resellers and 6,000 pharmacies to broaden its distribution network, with claims of having the largest liquidity among Nigerian agent banking networks, leveraging more than ₦1.7 trillion via its partners.

CrowdForce charges a 0.6% commission per transaction its partners make across all boards and has been cash positive since 2020 while growing 25% month-on-month to serve 1.9 million unique customers in 25 Nigerian states to date.

Loading

Advertisements
MTN ADS

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: Aruwa Capital ManagementCrowdForceDamilola AyorindeOluwatomi Ayorinde
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post

Access Bank Settles N118.05 million Tax Rift with Gombe State IRS

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

FirstBank, FBN Holdings

First Bank: FBN Holdings Gives No Reason for Cancellation of Extra Ordinary Meeting

1 year ago

South Africa’s TymeBank in Talks to Acquire SME Enabler, Retail Capital 

3 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.