NowNow, a Nigerian fintech startup has raised $13 million in a seed funding round led by NeoVision Ventures Ltd., DLF Family Office and Shadi Abdulhadi.
Founded in 2018 by Mahesh Nair and Sahir Berry, NowNow is a fintech company that enables users to quickly send and receive money, buy airtime, and pay bills with the sole aim of improving Africa’s financial inclusion and reducing the gap in Nigeria between the banked and unbanked.
In 2017, the fintech business developed a first-of-its-kind fully integrated Near Field Communication (NFC) capable wallet as part of their commitment to provide seamless financial services in Nigeria, allowing the startup to offer a comprehensive contactless payment solution.
“With the secured funding, we look to 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. The interest and backing of our investors will enable us to grow our world-class team as we would be unveiling innovative products and services” said Sahir Berry, CEO and co-founder of NowNow.
This funding will help to improve financial inclusion across Africa by providing financial services to the unbanked and underbanked on the continent as well as introduce new products that will further enhance its already existing consumer banking, agency banking, and merchant payment solutions.