Nigerian fintech startup TeamApt raises $5.5m Series A funding
Summary
Nigerian fintech startup TeamApt, which provides digital solutions and payment infrastructure to financial institutions, has closed a US$5.5 million Series A funding round to help it scale into new markets. The company has recorded revenue growth of 4,500 per cent over a three year period, and has now raised Series A funding in order to scale. The US$5.5 million round, led by Quantum Capital Partners, will see TeamApt expand more aggressively into additional markets, whilst deploying investment into further product development, talent acquisition and expansion of its internal operations. Innovation and technology are no longer nice-to-haves, but must-haves, as both businesses and customers demand convenient, quick, and easy services from their banks,” said Tosin Eniolorunda, founder and chief executive officer (CEO) of TeamApt. TeamApt’s ability to continuously innovate with a strong focus on customer delivery driven by an impressive management team were the key elements that supported our investment thesis,” said Elaine Delaney, co-founder of Quantum Capital Partners.