It seems fintech is booming in the African continent. A few days back, Nigeria based star Fintech company Paystack was acquired by Stripe. The event highlights the expansion of business that Africa would be witnessing in the coming time in the Fintech domain. This month we have yet another news coming from Nigeria. Fundall, a Nigerian based startup has raised $150k in its pre-seed funding round backed by a group of investors from Black Knight capital.
Fundall was founded in the year 2019 by Kolapo Joseph, a MBA in finance graduate from Chicago Booth School of Business. Fundall was formed to provide an all in one platform to its customers for all financial needs. The platform provides a full stack solution ranging from online payments to wealth management services to its customers. “We started Fundall to be a financial partner that helps everyone build generational wealth & grow their businesses through sound financial decisions & finance tools powered by Behavioural Economics and customized to their lifestyles”, says the founder Kolapo Joseph.
Fundall suite of products provide services to both individuals and businesses. Individuals can transfer – request money, easy saving options, a lifestyle card which syncs with users budget and helps in automating the spending option,Bill payments and many such exciting range of services. For Business fundall gives a tailor made experience with services such as creation of employee profiles for easier employee management, Inventory and Invoice management and schedule payments for employees.
This long range of services curated by keeping the needs of individuals and businesses, aims to give an financially empowered experience to its customers. This makes day-to-day financial decisions easy and also simple to the customers.
Future after the Funding
The Beta version of the App was tested by a large audience of 11,000 users and the final launch of the product was built on the feedback received through it. With this funding, Fundall aims to provide a much better experience to its customers. The company is also acquiring a Microfinance bank to comply with the regulation and to provide efficient services. The company has partnered with numerous organisations to cater the financial needs of people at one place and is also aiming to double up its team for better management and expansion.
As the slogan in the home page of Fundall says “ Your Bank. In deed.”, Fundall is making every effort possible to provide what it promises. The Pre Seed funding accelerates the company’s growth to new levels and comes at the right time of its launch.