The fintech sector is pioneering the financial inclusion revolution and driving economic growth in Africa. During the second quarter of 2023, African FinTech companies collectively raised $189m in funding with Nigeria dominating the continent’s FinTech ecosystem with a 42% share of deals.
Innovative startups now offer solutions to teeming users who readily embrace them. Among these firms is Fundall, “which began in 2019 with a clear mission of providing comprehensive financial services to empower Nigerians to spend, manage, and grow their money seamlessly from a unified platform.”
Fundall was founded in 2019 by Kolapo Joseph and was acquired in 2021 by Emerging Africa Group led by Toyin F Sanni. The team embarked on market research which revealed the absence of a wholesome financial tool with access to investment opportunities and resources that can help people manage the money they earn and help them make smart spending decisions.
Its seamless and easy-to-use mobile and web platforms allow users to enjoy financial services without signing up on multiple platforms, risking their security, or worrying about transaction charges when moving funds from one platform to another.
Several Nigerians and Africans struggle with poor spending habits. Nonetheless, Fundall helps members improve their financial health by offering budgeting and financial planning tools. It also connects them to investment assets to grow their wealth and allows them to manage all their financial transactions and activities from one app.
Fundall’s vision is to empower individuals with tools that transcend conventional banking, offering a comprehensive suite of financial services under one user-friendly umbrella.
Providing a seamless financial experience
Fundall operates as a dynamic financial ecosystem, providing users with a multifaceted range of financial services. From seamless expense tracking to opportunities for savings and investments, its platform is designed to deliver a personalized and hassle-free financial experience, ensuring that users can effortlessly navigate and leverage the full spectrum of its offerings.
Additionally, its commitment to accessibility extends to its distinctive offerings, such as 150 FREE bank transfers monthly, zero account maintenance fees, a virtual USD card for global payments, high-interest earning savings products, and access to banking services for children.
These features amongst others, enhance the overall financial experience for its members.
Fundall’s goal to make financing accessible is further evident in its business-facing and corporate digitization services and offerings like the salary advance loan, staff loan, and business operational management tools “which support a diverse range of clients including but not limited to investment banking companies, automobile dealers, asset management businesses, etc.”
Fundall is an unconventional digital bank
What distinguishes Fundall is its holistic approach to banking. Beyond the conventional transactional features, the platform offers a comprehensive suite of financial tools that provide individuals and businesses with a single point of entry to spend money, manage money, and grow wealth. Also, the team’s commitment to customer education and empowerment sets Fundall apart, as they believe that financial literacy is paramount.
By fostering a sense of financial well-being among its members, it aims to create a lasting impact on their financial lives. These elements contribute to a more inclusive and user-friendly financial experience for its esteemed members, Fundallers!
Bridging the gap between traditional and emerging financial solutions
Fundall serves as a pivotal bridge between traditional and emerging financial solutions. It achieves this by seamlessly integrating the convenience of digital banking with the familiarity of traditional financial practices. Its platform is designed to respect traditional saving habits, making it familiar and accessible.
Simultaneously, Fundall introduces its members to cutting-edge tools like advanced budgeting and personalized insights, ensuring a smooth transition to a more comprehensive and modern financial experience. Through education, it empowers users to embrace the best of both worlds. This approach ensures that Fundall becomes an inclusive financial companion for users across diverse backgrounds.
Bagging 2023 NIAN’s “Digitising Financial Inclusion in Nigeria” Award
Fundall won the prestigious award for “Digitizing Financial Inclusion in Nigeria” during the Nigerian Innovation Summit Awards 2023. Nigeria Innovation Summit is an annual event that brings together stakeholders from different sectors of Nigeria’s economy to share ideas, opportunities, and so much more. This year’s edition was held on October 6th, 2023 with the theme: Innovating for the Future and was wrapped off with a dinner and award night.
According to Abimbola Shopeju, Chief Executive Officer of Fundall, bagging the award is a profound validation of Fundall’s unwavering commitment to fostering financial inclusion.
She continued, “The recognition serves as a powerful endorsement of its efforts to empower individuals across the financial spectrum.
Beyond validation, the award holds significant strategic implications for Fundall in the Nigerian Fintech space. It opens doors to new opportunities for collaboration, partnerships, and industry recognition.
We view this award as a catalyst for further innovation and a testament to our dedication to creating a more inclusive financial landscape for all Nigerians.”