Fundall, a Nigerian fintech startup has announced a pre-seed investment of $150,000 led by Black Knight Capital, a pre-seed and seed-stage angel investment outfit.
Fundall intends to direct the investment mainly into the acquisition of a Microfinance Bank to upgrade the fintech and increase the number of people it serves. This will also help strengthen its operational framework and license to meet both regulations and customer service expectations.
Fundall also plans to use some of the investment to enhance 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 which is currently in the development stage. It will be ready for the market later in November 2020.
The CEO of the startup, Taiwo Obasan, said they are building a Fundall that will not only help customers today but one that will in the future also help millions of Nigerians manage their money, build wealth and grow their businesses.
Fundall boasts of a platform that allows every customer to find solutions to the simple financial transaction challenges people have. This includes no paperwork, low fees charges, being able to schedule daily reminders sent to debtors, send money to people even when you cannot access their account details, automate percentage savings every time you spend, and some more.
