- Bloc’s 100% acquisition of Getwallets is a combined cash and equities deal with the revamped newcomer to the Bloc family remaining a standalone entity still led by CEO & founder, Jerry Enebeli.
Bloc, Nigeria’s full-service FinTech and Banking as a Service infrastructure provider, announces its acquisition of Getwallets, the wallets-as-a-service provider that has now recently pivoted to become a payments orchestration company, Orchestrate.
The strategic acquisition will enable Bloc to focus its core product strategy on delivering seamless BaaS & banking services while Orchestrate leads its FinTech Infrastructure with its proprietary payments orchestration API.
Bloc’s 100% acquisition of Getwallets is a combined cash and equities deal with the revamped newcomer to the Bloc family remaining a standalone entity still led by CEO & founder, Jerry Enebeli.
Bloc, with its CBN-issued PSSP & Microfinance banking licenses, specializes in providing proprietary and aggregated APIs that allow businesses to offer banking and financial services to their customers while also handling most of the regulatory and compliance requirements on their behalf.
Its stack of F/BaaS products and services empowers businesses to embed seamless digital financial services in their platform. Since 2021, Bloc has transitioned from offering solutions for utility payments to its current iteration as a full-service FaaS infrastructure provider.
Bloc has processed more than $30M in the past year through its bill payments API alone. The company also recently launched its SuperAgency tool which allows licensed companies to offer agency banking services.
Getwallets was founded in 2021 by Jerry Enebeli and Yewande Odumosu to offer an integrated payment and wallet framework allowing payment providers a more unified structure for their customers.
Its pivot to a broader payments infrastructure company means, as Orchestrate, it can provide businesses instant access to multiple payment methods and providers globally through a single integration [currently available in Nigeria, Ghana, Egypt, South Africa & the USA, with plans to extend support to more foreign payment providers and currencies in the near future].
Bloc’s acquisition of Orchestrate boosts the group’s capacity to offer FinTech infrastructure such as online payments, subscription management, BNPL payment infrastructure, virtual wallets, bill payments, invoicing, etc, in its FinTech-as-a-Service suite of APIs.
Commenting on the acquisition, Edmund Olotu, founder of Bloc, said: “We are proud of our input in helping shape the African fintech space and excited to welcome the Orchestrate team into the Bloc family.
