Nigeria’s Flex Finance raises pre-seed funding to assist it develop

Nigerian fintech startup Flex Finance, a cell ecosystem that helps MSMEs and solo entrepreneurs higher handle and monitor their day by day enterprise bills and funds, has raised a six-figure US greenback pre-seed funding spherical to help its development.

Flex permits companies to digitise their day by day operations through a easy, accessible cell platform. Geared up with an intuitive person interface, working the app requires little-to-no monetary data. The purpose of the corporate, which was fashioned in September 2019, is to assist MSMEs turn out to be smarter and extra worthwhile

The startup has simply closed a six-figure pre-seed funding spherical from Gumroad CEO Sahil Lavingia, LoftyInc Capital Administration, Berrywood Capital, Paradox Capital, Kairos Angels, Brett Kopf, Julian Shapiro, Maneesh Arora and others. Flex beforehand raised US$200,000 in undiluted funding from Accion Enterprise Lab, The MasterCard Basis, and Catalyst Fund.

Flex formally launched its automated spend administration platform in March, and has since onboarded a whole lot of companies. It processes hundreds of thousands of {dollars} in spending on a month-to-month foundation. 

“The purpose is to free enterprise house owners and finance groups in Africa from the stress of spend administration, as a result of we imagine that making this significant facet of enterprise delightfully easy, can save companies tons of time and cash, inadvertently serving to them develop and succeed thereby growing their creditworthiness,” stated Yemi Olulana, the startup’s CEO.

“This funding obtained has up to now helped to develop the corporate’s manpower, scale operations and can assist with the launch of our new product choices like digital playing cards.”

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