Sunday, September 28, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Africa

Fintech Platform, OneFi Acquires Amplify

Tech Gist Africa by Tech Gist Africa
03/22/2019
in Africa, Africa News, Business, News
0 0
0
Fintech Platform, OneFi Acquires Amplify

Photocredit: nairametrics.com

0
SHARES
Share on FacebookShare on Twitter

Nigerian fintech company, Amplified Payments Ltd has been acquired by One Finance Limited. The acquisition fee was not disclosed and the process began in March 1st, 2019. The acquisition will aid OneFi in boosting its financial services offering by adding Amplify’s assets, trade and flagship products— AmplifyPay and mTransfers, to its growing portfolio.  

Founded in 2015 by co-founders, Segun Adeyemi and Maxwell Obi, Amplified Payments Ltd, is a fintech company that builds and facilitates payment solutions and digital financial transactions in Nigeria. Amplify supports over 1,000 merchants and facilitates digital transactions for four of the country’s largest banks.

AmplifyPay, one of the company’s product is a payment gateway that specializes in recurring transactions. mTransfers, also an Amplify product is a keyboard banking solution that enables consumers to conduct bill and P2P payments in any chat app which might have pushed the three-year-old start-up to a market-leader in Nigeria’s financial processing space.


See also: Kenya’s BRCK Acquires Surf; Becomes One of Africa’s Biggest Wifi Network Provider


The acquisition will have Amplify’s co-founder and CTO, Maxwell Obi, join the OneFi team to oversee the payments direction of the company, while co-founder/CEO, Segun Adeyemi, will depart in pursuit of new ventures. Commenting on the acquisition and his new role, Maxwell says, “The key factor which stood out in our decision to work with OneFi was that we saw them as an extension of our vision. We stepped into this industry to use our payment solutions to facilitate a growing economy, and OneFi’s focus on financial inclusion feeds well into this. It’s a real example of a collaborative effort and I’m excited to see the next chapter of our development.”

Launched in 2016, OneFi is a consumer-facing lending platform, founded by Nigerian finance entrepreneurs — Chijioke and Ngozi Dozie. The platform provides seamless access to loans without the need for human intervention or bias in decision making. The platform has deployed over $50M across 750,000 loans, approving over 1,500 loans a day at an average of $80 per loan. The company recently, also secured a $5 millon loan facility.

Chijioke Dozie, OneFi Founder and CEO, said “Today’s announcement signals OneFi’s first acquisition; a strategic decision that kicks off our transformation from a digital lender to a diverse digital financial services platform focused on transactions, payments and loans. We will ensure we meet our ambitious goal of doubling our size in Nigeria this year. We have long respected the Amplify team for their ability to provide innovative solutions under adverse conditions, and we look forward to blending our expertise  to power the future of fintech infrastructure and digital payments in Africa.”

 

More on TechGist Africa:

  • Kenya’s BRCK Acquires Surf; Becomes One of Africa’s Biggest Wifi Network Provider
  • Spotify Plans Big, Acquires Gimlet and Anchor
  • OneBio Launches First Incubator Program for S.A and Zimbabwean Biotech Entrepreneurs
  • Nigerian Fintech TeamApt to Expand to Latin America
  • Jumia, African E-commerce Platform Files for IPO on NYSE

 

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a leading online technology and digital media outlet, dedicated to providing latest tech news, product launch, startup news across Africa and sharing simple social media and digital marketing tips for startups, entrepreneurs and business owners.

Related Posts

Rulebase
Funding

Rulebase Secures $2.1M Pre-Seed Funding to Revolutionize Fintech Back-Office Automation

by Tech Gist Africa
09/26/2025
0

Rulebase, a Y Combinator-backed fintech startup, has raised $2.1 million in pre-seed funding to automate back-office operations in financial services....

Read more
SunCulture Kenya

SunCulture, a Kenyan climate-tech startup has secured a $5 million funding

09/26/2025
AGF Visa Foundation

AGF and Visa Foundation Unveil $2M Fund for Women Entrepreneurs in Africa

09/26/2025
Justyol Morocco

Justyol, a Moroccan e-commerce startup has raised $1 million in funding

09/26/2025
Mavryk Network UAE

Mavryk Network Secures $10M to Revolutionize UAE Real Estate with Blockchain Tokenization

09/26/2025
Next Post
Uber to List on New York Stock Exchange, Nigeria’s Wecyclers win African Development Prize, Farmcrowdy Lands Additional Seed Funding and More

Uber to List on New York Stock Exchange, Nigeria's Wecyclers win African Development Prize, Farmcrowdy Lands Additional Seed Funding and More

MTFC announces 2nd edition of Innov8Agric Challenge to promote Innovation in Agric Entrepreneurship

MTFC announces 2nd edition of Innov8Agric Challenge to promote Innovation in Agric Entrepreneurship

SA’s Africam Offers Safari Experience to the World

SA's Africam Offers Safari Experience to the World

No Result
View All Result

The Big 5

Food Security

How Technology is Advancing Global Food Security and Reducing Hunger

by Tech Gist Africa
09/26/2025
0

...

Nvidia Abu Dhabi Robotics Lab

Nvidia and Abu Dhabi Institute Launch Middle East’s First AI & Robotics Lab

by Tech Gist Africa
09/26/2025
0

...

MultiChoice

Canal+ has officially completed its $3.17 billion acquisition of South Africa’s MultiChoice Group

by Tech Gist Africa
09/26/2025
0

...

216 Capital & Plug and Play Accelerator

216 Capital & Plug and Play Launch Tunisian Accelerator to Bridge Local Startups to Global Stage

by Tech Gist Africa
09/26/2025
0

...

Funding

Groundbreaking UK Tender Aims to Map East Africa’s Start-Up Financing Landscape

by Tech Gist Africa
09/26/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.