Nigerian Core Banking Provider Appzone Secures US$10 Million Funding

Nigerian Core Banking Provider Appzone Secures US$10 Million Funding

Appzone, a Pan-African fintech software provider building proprietary solutions for the continent’s banking and payments industries, has announced the close of its US$ 10 million Series A round.

The round was led by CardinalStone Capital Advisers with participation from V8 Capital, Lateral Investment Partners, Constant Capital, and Itanna Capital Ventures.

Appzone said that the new round will bolster investment in its core technologies and kickoff a wave of new country expansions.

Currently, Appzone’s clients spread across Nigeria, Ghana, Gambia, DRC (Democratic Republic of Congo), Tanzania, Senegal and Guinea.

To-date, the company has reportedly raised US$ 15 million in equity funding.

Obi Emetarom

Obi Emetarom

Obi Emetarom, Co-Founder and CEO of Appzone said,

“In terms of next steps, we are now looking to hire from Africa’s top 1% to grow our team of elite talent who have proven themselves to be true African builders; the brightest senior software engineers and domain experts, doing the incredibly hard work of building the backbone and next generation infrastructure for digital financial services at a level beyond world-class.”




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