Nigerian fintech startup Bridgecard raises $440k pre-seed funding spherical
Nigerian fintech startup Bridgecard has raised a US$440,000 pre-seed funding spherical to broaden its consumer base and construct out its platform.
Co-founded by Owumi Festus and Tunde Adewole, Bridgecard merges a consumer’s playing cards, financial institution accounts and fintech wallets into one card and an app, permitting customers to carry out on-line transactions, pay payments, and withdraw from any linked account.
After a non-public beta the place Bridgecard launched to 120 customers and processed over US$70,000 transaction quantity inside two months, the startup just lately launched publicly. It has now raised US$440,000 in pre-seed funding with the participation of the likes of ABV Fund, Ingressive Capital, Voltron Capital, Enterprise Platform, Velocity Digital, and Berrywood Capital.
Different angel traders within the spherical embrace Johnson Yaya, Kennedy Ekezie and Duke Ekezie from Kippa, and Miracle Anyanwu.
Bridgecard will use the funding to extend the variety of financial institution accounts that may be linked to it, broaden to assist crypto wallets in supported international locations, get the product within the palms of extra folks, and remedy on-line and card fee points higher.
“We constructed Bridgecard as a result of it’s fairly troublesome to have only one financial institution and much more troublesome to handle funds throughout a number of financial institution accounts. We needed to resolve this downside by constructing an working system for cash, one app the place you might spend, ship, and see the cash in all of your financial institution accounts and wallets,” mentioned Adewole.
“We additionally needed to supply our customers with one card that may assist all of your on-line and offline transactions. Bridgecard moved from a cellular app my co-founder and I used to make our lives higher to what we received over 5,000 folks excited about. We actually can’t wait to resolve this downside for each African.”