Nigerian Fintech Startup Pivo Raises Funding From Microtraction

Nigerian startup Pivo, a credit-focused financial services company for SME players in the supply chain, has raised an undisclosed amount of funding from early-stage VC firm Microtraction.

Pivo offers SME owners in the supply chain sector a new and more efficient way to access financial services. Pivo Capital, the company’s flagship product, allows companies to access working capital loans of up to USD 50 K to help scale their business. It also provides trade financing support, which helps suppliers fulfill customer orders even when they lack the upfront capital.