TeamApt completes Series B funding, commits to African market

TeamApt, a Nigerian Fintech startup with a focus on serving the unbanked and underbanked population in the country, has announced the completion of its most recent series B funding round. 

The funding effort was led by Novastar Ventures and also backed by firms such as FMO, Global Ventures, CDC, Oui Capital, Kepple Africa Ventures, Soma Capital, and an assortment of angel investors within Nigeria.

With the new capital raised, the startup hopes to ensure more individuals and small and medium enterprises are reached and can access its offerings. The firm desires to be the gate out financial straits for as many private and B2B clients, while also working to expand its reach beyond the shores of Nigeria.

Latest figures show that more than 50% of the nation’s adult population (estimated to be 99million) are either unbanked or underserved as far as their finances are concerned. TeamApt, this is both a gap for lucrative business and a chance to serve the need of many.