TeamApt, a Nigerian fintech that provides digital solutions and payment infrastructure for Africa, closed on a $5.5M deal led by Quantum Capital Partners.
The Lagos-based company is a leader in the development of Digital Banking, Digital Business solutions and running Payment Infrastructure for Africa.
The announcement will help the company key into additional markets, whilst deploying investment into further product development, talent acquisition and expansion of its internal operations.
Working with 26 African banks, and 100% of all commercial banks in Nigeria, including Zenith, ALAT, UBA and Diamond Bank, TeamApt builds white-labeled products, to ensure digital financial transactions are easier, faster, cheaper and safe.
Since its launch in 2015, TeamApt was interested in creating financial happiness for Africans through technology, and so far has on-boarded 100,000 Nigerian businesses, serving 3M customers across Africa’s largest economy and is currently processing monthly transactions of $160M. The company has recorded revenue growth of 4,500% over a three year period.
With a team of 40+ developers, TeamApt is an engineer-led company that was built to solve inefficiencies in Nigeria’s growing digital financial services market, at scale, using automation and has deployed over 55 tailored solutions to banks. The company’s flagship product is Moneytor an end-to-end omnichannel digital banking solution for financial institutions to fast track digital transformation processes with web and mobile interfaces.