New fintech, ‘NowNow’, raises $13 million in seed funding

A Nigerian fintech startup, NowNow Digital Systems, said it had raised $13 million in its seed round to improve financial inclusion across Africa.

The Chief Executive Officer, NowNow, Sahir Berry, said this in a statement on Wednesday in Lagos.

Mr Berry said the seed funding would drive financial inclusion by providing financial services to the unbanked and underbanked in the continent.

He said that with the newly secured funds, NowNow would drive financial empowerment and introduce new products which would further enhance its already existing consumer banking, agency banking and merchant payment solutions.

According to him, the funding round led by NeoVision Ventures Ltd., DLF Family Office and Shadi Abdulhadi, heralds NowNow’s plans to scale and expand its service offerings across Africa.

He said that, equipped with a rapidly growing product suite and highly agile technology platform, NowNow “sought to build the world’s best technology that digitises cash payments for Africans.”

NowNow’s renewed commitment and vision is  to include everyone financially, he said.

“Today we announce that we have moved to the next stage of our commitment to drive financial access and empowerment for Africans at the last mile.

“With the secured funding, we not only provide services that include everyone financially but also upscale our agile ecosystem which ensures that our multidimensional offering remains a market leader.

“The credit facility will also support our unique strategy to advance financial inclusion and independence through financial education,” he said.

According to him, the interest and backing of  investors will enable the organisation to grow a world-class team as we would be unveiling innovative products and services.

Mr Berry said that NowNow was focused on solving everyday financial challenges by creating the largest fintech ecosystem in Africa as well as supporting the financial inclusion goal in the continent.

Founded in 2018, NowNow is an African digital banking platform whose mission is to deliver best-in-class financial services to SMEs, agents, and consumers. 

(NAN)