As the Fintech industry continues to rethink how Nigerians manage money and transact funds, Fundall — one of its latest startups and direct challenger to “digital banks” like Kuda and Alat — has announced a pre-seed investment of $150,000 (One hundred and fifty thousand dollars) led by Black Knight Capital, a pre-seed and seed stage angel investment outfit.
Read also: Mobile Money key To Africa’s Growth, But Bad Tax Policies Ruin It – By Bassim Haidar
As part of an upgrade to what was like a Beta phase where it directly served about 10,000 members and about 200 million in deposits, Fundall is directing the investment largely into the acquisition of a Microfinance Bank, as part of steps to further strengthen its operational framework and license to surpass both regulations and customer service expectations.
With the new investment, Fundall also plans to deepen the distribution of its Personal Banking product it launched earlier in October, 2020 and build a stronger road-to-market path for its Corporate/SME Banking service currently in development stage and ready for market later in November, 2020.
According to the CEO, Taiwo Obasan (pictured above), Fundall is highly invested in continuously building not only for today, but for its envisioned future of helping millions of Nigerians manage their money, build wealth and grow their businesses.
Fundall prides itself as a personal financial partner that provides fully automated banking experience customized to the lifestyle of each user, this is powered by Artificial intelligence and Behavioural Economics. By replacing lots of processes, complexities and bureaucracy with machine learning, gamified experience and relatable user journey, Fundall promises zero paperwork, richer financial experience and low fees to increase access to premium personified financial services.
On fulfilling its ambitious slogan “Your bank. In deed”, the platform boasts of its range of smart features that provides solutions to common problems people ever wished they had a way around like being able to schedule daily reminders sent to debtors, send money to people even when you cannot access their account details, automate a percentage savings every time you spend, and some more.
Fundall has been received with raving reactions and as it continues to gain adoption by individuals and businesses, it is only a matter of time before it raises another round of funds and expands its offering and reach.
Read full article here
GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges
GFA Attract, GFA Weekly Recap & Application Portal For Funding
GFA Weekly Round- up Podcast
In this week’s weekly round up podcast, Nichole discussed about the funding activity between September 28- October 2
Listen Here
GFA Attract Interview
Victor Boyle-Komolafe, the co-founder of Garbage In, Value Out (GIVO), a system that automates and digitises the collection, processing, and sale of recyclable materials. Watch Here
Apply For Funding
GetFundedAfrica provides equity capital from $1,000 to $50,000.
For larger amounts (Above $50,000)
we organize syndicated funding rounds of up to $500,000.
Apply Here
Follow Us
“Entrepreneurs have to learn the power of networking and the value of mentorship, as these are the things that most entrepreneurs take for granted. And also they must know that opportunities will not come to them; they have to go out there and create them by knocking on corporate doors with proposals. Personally, I am where I am because of a business mentor who changed the way I see things.”
– Anda Maqanda, founder of AM Group in South Africa
