Thepeer, a Nigerian startup, will get $2.1 million in seed cash to help its growth throughout Africa
Thepeer, an African tech infrastructure agency connecting companies’ wallets, has secured a $2.1 million seed funding led by The Raba Partnership.
Ralil cap Ventures, BYLD Ventures, Timon Capital, Musha Ventures, Sunu, Uncovered Fund, and different African fintechs like Chipper Money and Sew are among the many further buyers who took half on this spherical.
Thepeer was established in August 2021 as an answer to the costly and troublesome switch of cash throughout cell wallets by Kosisochukwu Chike Ononye (CEO) and Michael Okoh (CTO).
Thepeer is an API-based enterprise that permits its purchasers—principally small and medium-sized enterprises and fintechs—to allow their very own customers to fund their accounts from different companies, switch cash throughout their varied wallets, and pay for merchandise conveniently utilizing their wallets.
Presently, there are about 600 fintech corporations working segregated wallets throughout the continent. We wish to allow connections and fee processing from any pockets. In keeping with CEO Ononye of Thepeer, “We’re creating an working system so that companies might present further companies to their purchasers.
In keeping with the agency, it has skilled common MoM transaction progress of 161 p.c since its begin in August 2021 by way of Q1-22.
Thepeer, which solely presently operates in Nigeria, will use the newest funding to increase to different African nations like Kenya, South Africa, and Egypt.
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