OnePipe, a Nigerian fintech startup, has raised a seed funding round of US$3.5 million to expand its integrated finance strategy.
Atlantica Ventures, Tribe Capital, and V&R Associates led the investment round. Canaan Partners, Saison Capital, Norrsken, The Fund, and Two Culture Cap are among the new investors, while Chris Adelsbach, Techstars, Ingressive Capital, Acquity, P1, Raba, and DFS Lab are among the current investors.
OnePipe, which was launched in August 2019, collects APIs from banks and fintech into a standardized gateway that is easy to integrate and streamlines relationships.
In the ten months since OnePipe began partnering with enterprises to deliver embedded financial services, the team has processed nearly one million individual accounts and handled over 6.3 million transactions valued at over US$46.3 million from roughly 140 organizations.
“As businesses provide these financial services to consumers who have trusted them over time, they generate stickiness, while their customers benefit from customized services from an entity that has a deep and familiar grasp of their financial needs.” OnePipe’s infrastructure, in essence, creates a win-win situation for businesses, their customers, and the financial institutions that have chosen to join the movement,” said Ope Adeoye, the company’s creator.
OnePipe, which obtained a pre-seed round of $950,000 late last year, will utilize this new funding to develop its business by fine-tuning its product offerings, strengthening its team, and entering a few key African regions.
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Crossfin, a South African fintech firm, has been acquired by a group of investors for $94.8 million
Sabi, a Nigerian B2B marketplace, has raised a bridge round of $6 million
Asilimia, a Kenyan fintech startup, has raised $2 million in pre-seed funding
