API developer Okra closes seed round on $3.5m

Okra, which stylises itself as Africa’s open finance API, has closed its seed round on $3.5m.

Susa Ventures served as the lead investor, with commitments also coming from Accenture Ventures and previous backer TLcom Capital.

The round also included three angel investors, GoFundMe chairman Rob Solomon, former Robinhood head of data platforms Arpan Shah and former Robinhood senior engineering manager Hongxia Zhong.

Founded by Fara Ashiru Jituboh and David Peterside, the FinTech offers a one-stop-shop for FinTech developers in Africa. Its APIs enable developers and businesses to build personalised services and FinTech products for customers.

Its product suite includes tools for authentication, identity, income insights, transactions history, payments and real-time balance.

Omobola Johnson, senior partner at TLcom Capital and former minister of ICT in Nigeria, said, “We have consistently been impressed with Fara’s technical depth and expertise, which when combined with the entrepreneurial acumen she and David bring to the company leaves us confident that they are building Africa’s most stable and robust API infrastructure. TLcom is delighted to continue partnering with Okra.”

Last month, Stitch closed a $4m funding round, which was led by firstminute Capital and The Raba Partnership. The company offers full API access to financial accounts across Africa.

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