OnePipe, a Nigerian financial services company, raises $3,500,000 to enhance its operations
OnePipe, a Nigerian fintech startup, has acquired $3,500,000 in seed funding to expand operations throughout Africa, bridge financial gaps, and improve the customer experience for businesses.
OnePipe received funding from a variety of sources, including African impact-focused venture capital firm Atlantica Ventures, which co-led the seed round with Tribe Capital and V&R Associates.
Canaan Partners, Saison Capital, Norrsken (the fund of Klarna founder Niklas Adalberth), The Fund, and Two Culture Cap were among the new investors, while existing investors Chris Adelsbach, Techstars, Ingressive Capital, Acquity, P1, Raba, and DFS Lab followed with new checks, as did a few angel investors.
OnePipe makes use of an API to allow businesses to focus on developing market-leading products. According to the firm, the majority of the underlying infrastructure required for the production of product as a service has been given by its partner banks and fintechs, allowing users to focus on customer experience and acquisition.
OnePipe, founded by Ope Adeoye, also works with non-financial institutions to launch and cross-sell a variety of financial services such as credit, accounts, and payments.
The company confirms that it has completed over 6,300,000 transactions totaling $46,300,000 from over 1,000,000 individual accounts and 138+ enterprises ranging from FMCG and retail to lending and agricultural.
OnePipe generates revenue by deducting a portion of transactions on accounts and shares with its partner banks. OnePipe receives at least 1% of loan interest from its lending partners and shares it with businesses and partner banks for loans made through its APIs.
