OnePipe, a Nigerian fintech API startup, has raised a $3.5 million seed round co-led by Atlantica Ventures, Tribe Capital and V&R Associates.
New investors Canaan Partners, Saison Capital, Norrsken, The Fund and Two Culture Cap also participated. Existing investors Chris Adelsbach, Techstars, Ingressive Capital, Acquity, P1, Raba and DFS Lab followed on with new checks, alongside a few angel investors.
Founded in 2018 by Ope Adeoye, OnePipe builds and maintains APIs that enable banks to partner with modern digital services and fintech.
“We raised a round last year to focus on one use case of the partnership, which was to pull together the APIs of a fixed set of banks and offer embedded banking or banking as a service play,” Adeoye said. “Meaning, we make it possible for non-financial institutions, or businesses in general, to offer banking services to their customers.”
Aniko Szigetvari said: “In our view, embedded finance is the next enabler for both traditional and financial service businesses to increase customer loyalty and revenue by offering a wide range of third-party financial products and revenue streams for their customers.”