After receiving a US$4 million funding round, Earnipay, a Nigerian fintech business that gives income earners flexible and on-demand salary access, is currently rapidly scaling. Earnipay was established by Nonso Onwuzulike in 2019 and connects payroll and HRM systems for employers to provide on-demand financing for workers to obtain their earned wage immediately and interest-free….
Earnipay, a Nigerian fintech firm that provides flexible and on-demand salary access to income earners, has raised US$4 million in seed funding to expand its product. The seed round is led by Canaan Ventures, with participation from XYZ Ventures, Village Global, Musha Ventures, Ventures Platform, Voltron Capital, and Paystack CEO Shola Akinlade. Nonso Onwuzulike founded…
Wages for formal-sector employees in Nigeria are paid monthly; however, wages for informal-sector employees are paid daily. When salaried employees are unable to make ends meet between paydays, they now have three options: borrow, take out a loan, or request a salary advance. However, most loans have exorbitant interest rates, and salary advance schemes can…