Nigeria-based ImaliPay has reportedly secured a pre-seed investment to help it accelerate its scaling efforts.
The capital injection was led by TEN13, with additional support coming from Finca Ventures, Optimiser Foundation, Mercycorps Ventures, Changecom and a number of angel investors, according to a report from Venture Burn.
With the funds, the FinTech hopes to expand across Kenya, Nigeria and South Africa.
ImaliPay offers a mobile platform for businesses and individuals to manage their finances. Its tools include loans, savings accounts and tools to build credit.
One of its features lets users set financial goals, helping them keep track of how close they are to certain milestones.
Last month, fellow Nigeria-based FinTech company Cowrywise reportedly collected $3m in its funding round.
The mobile app provides consumers with a tool to plan, save and invest their money. Through the app, a user can plan for their future and the various milestones along the way, such as housing, education, family and retirement.
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