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Nigerian Fintech Startup Appzone Raises $10M Series A To Innovate Banking Solutions For Africa

Africa’s fintech space has garnered more attention in recent years as more and more companies emerge on the continent to redefine proper banking solutions for consumers. Appzone — a fintech software provider that digitizes banks and financial services — was founded by Emeka Emetarom, Obi Emetarom, and Wale Onawunmi back in 2008 as a means to offer commercial banks custom software development services through homegrown financial technology versus tech of foreign origins, according to TechCrunch. Today, the Nigerian-based startup has announced the raise of a $10 million Series A investment round to build upon the success the platform has already seen and position itself as innovators of fintech in Africa. TechCabal reports the funding round was led by Lagos-based investment banking firm CardinalStone, with participation from other firms such as V8 Capital, Lateral Investment Partners, Constant Capital, and Itanna Capital Ventures. According to the outlet, Appzone plans to use the new...

Apr 12, 2021