FrontEdge, a Nigeria fintech, has secured $10 million in a equity and debt funding round to support African cross-border trade. The investment came from TLG Capital alongside other backers, including digital freight forwarder Flexport.
The funds will be directed towards hiring more talent, scale its financing product across Nigeria, Ghana, Ivory Coast and Kenya, and launch additional products as it aims to diversify its revenue streams beyond financing.
Founded in 2021 by Moni Alli, Front Edge is a financial technology provider that manages trade transaction across Africa and emerging markets.
“TLG is proud to support FrontEdge in its mission to help African SMEs prosper, serving as a crucial conduit to provide access to capital for Africa exporters and financial empowerment. FrontEdge is strategically placed to tackle an important problem that must be solved for African traders to effectively engage in global trade, and we believe that the leadership will execute on the vision,” said Johnnie Puxley, an investment professional at TLG Capital.