Nigerian fintech startup, NowNow has raised $ 13 million in seed funding to improve financial inclusion in Nigeria and Africa.
The funding is led by NeoVision Ventures Ltd and DLF Family Office. It will provide financial services to the unbanked and under-served on the continent.
It will also be used to expand its service offerings across the continent and to drive financial empowerment. This will help with the introduction of new products which will further enhance its already existing services.
Equipped with a highly agile technology platform, the firm seeks to build the world’s best technology that digitizes cash payments for Africans.
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NowNow’s Reaction
He added that the company will support the advancement of financial inclusion and independence through financial education.
“The interest and backing of our investors will enable us to grow our world-class team as we would be unveiling innovative products and services”
What Report Says
A financial report from the Central Bank of Nigeria (CBN) shows Nigerians are in dire need of financial education. This ranges from budgeting, long-term financial planning, risk management, and insurance.
Revealing the significant knowledge gap, the company assures that the funds will be used to bridge the gap between the banked and unbanked.
Stakeholders’ Opinion on NowNow
Managing Partner of Capital V Ltd, Gary Peters said,
“One of the key elements that propelled us to invest in NowNow is the founders’ tenacity to grow the company to a viable level. Its core business and vision of digitizing the African region through facilitating daily payment services is also another important element.”
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