Nigeria-based OnePipe collects $4.8m investment


Nigeria-based OnePipe, which empowers companies to integrate financial services within their value chains, has reportedly raised NGN 2.25bn ($4.8m).

The investment was led by pan-African alternative investment firm TLG Capital, according to a report from Further Africa.

Capital from the round will be used to help the company provide inventory finance to small shops in Nigeria. The FinTech company also hopes to expand its operations, as it aims to become a leading provider of financial services to micro-enterprises in Nigeria

The Nigerian FinTech company boasts three flagship solutions: PaywithTransfer, Pay4me and Benefits.

Its PaywithTransfer solution is an embedded payments service which includes virtual accounts, cards and more. The Pay4me solution offers various forms of credit for customers, including inventory finance, asset finance and short-term cash loans.   

OnePipe CEO Ope Adeoye said, “TLG’s extensive experience structuring debt in Nigeria and their deep network across Africa, particularly in the venture, made them the partner of choice as we look to scale. TLG is our first debt partner and has been a powerful resource in planning our growth and balance sheet strategy.

“Through this partnership, we’re looking to build the infrastructure to provide credit and payment services to the two-thirds of Nigerian business owners who don’t have access to effective and practical banking services.”

OnePipe previously raised $3.5m for its seed funding round in late 2021. The capital was supplied by Atlantica Ventures, Tribe Capital and V&R Associates.

In other Nigerian FinTech news, Techstars Toronto Accelerator revealed the nine African startups to participate in its latest programme. Among these was Nigeria-based GIGXPAD. The company serves as a crypto bank, allowing users to store, earn, invest and spend their cryptos.  

Keep up with all the latest FinTech news here.

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.