PhotoPictureResizer 210324 091026641 crop 864x771 1 - Nigerian FinTech Startup Bankly Raises $2M
Start-up Tech

Nigerian FinTech Startup Bankly Raises $2M

Yap that right, another Nigerian fintech startup Bankly has just raised a massive $2 million in seed funding.

Although some people might say that $2 million isn’t much of a deal compared to others, we’re talking about a 2-year-old startup here.

internet 300x105 - Nigerian FinTech Startup Bankly Raises $2M

Bankly joins the bandwagon

Alright now for those who are wondering “what on earth” Bankly is? Well here is a quick rundown on what the entire platform is all about.

Bankly is an online platform/app that takes the financial game digital, for locals. They assist mostly small-scale traders who usually run something called rotat ing saving or credit organizations in Nigeria.


Bankly, like all other startups, has founders who, well, started them up. And in our case, it was founded by Tomilola Adejana and Frederick Adams in July of 2019.

From their mode of operation, you can clearly see that Bankly deals mostly in cash-dominant communities. Their mission is to help locals save in the offline world.

TechCrunch, Adejana said that “Just in the same way mobile inclusion happened, you need to then focus on acquiring customers who, after transferring cash to their mobile accounts, use it to buy airtime or make payments.”

According to reports, Bankly has over 15,000 agents right now and is looking to up their customer base to 2 million in just 3 years. They are confident in achieving this goal considering the fact that they have received some investments from other fintech companies in Nigeria.

To be honest, here, Nigerian startups have been making quite the waves lately and if care ain’t taken they might turn out to become the tech-dominated country in Africa.

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