Nigerian Fintech Bankly Raises USD 2 Mn In Seed Round Led By Vault

Bankly, a Nigerian fintech startup, has raised USD 2 Mn in a seed round led by Vault, the holding company for VANSO. Other investors who participated in the round include Plug & Play Ventures, Chrysalis Capital, and Rising Tide Africa.

Founded by Tomilola Adejana and Fredrick Adams, Bankly is a digital platform that provides financial services for unbanked people in the informal sector. The platform allows access to services such as savings account, bill payments, and insurance products among others. The startup plans to use the fund to increase its customer base and secure more agents to onboard new customers.