Friday, January 28, 2022

    Nigerian Tech Startup, TeamApt Looking to Raise $150m at $1bn Valuation

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    TeamApt, a Nigerian fintech startup, is looking to raise about $150 million that will value the company at more than $1 billion.

    The founder and Chief Executive Officer of TeamApt, Tosin Eniolorunda told Bloomberg in an interview. According to the CEO, the startup is generating interest from venture capital investors from the U.S. and Europe.

    “The money will be used for our expansion to Egypt, Ghana, and Cameroon,” said Eniolorunda. “And building out our digital banking product targeted at the under-served.”

    If TeamApt eventually raises funding, it will join Flutterwave and OPay as the Nigerian fintech startups with over a billion-dollar valuation.

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    TeamApt now processes $3.5 billion in transaction values monthly, with 150,000 agents on its platform, and has 14 million users, Eniolorunda said.

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