Nigerian Fintech Startup, NowNow Has Raised $13 Million 

NowNow Digital Systems, a Nigerian fintech startup, has raised $13 million in seed funding to improve financial inclusion in Nigeria and across Africa. It will provide financial services to the continent's unbanked and underserved populations.

The investment, led by NeoVision Ventures Ltd, DLF Family Office, and Shadi Abdulhadi, signals NowNow's intention to scale and expand its service offerings across the continent.

The newly secured funds, according to the company, will drive financial empowerment as well as help introduce new products that will complement its existing consumer banking, agency banking, and merchant payment solutions. With a rapidly expanding product suite and a highly agile technology platform, the company aims to create the world's best technology for digitizing cash payments for Africans.

Sahir Berry, the company's Chief Executive Officer and Co-Founder, stated that the company has progressed to the next stage of its commitment to driving financial access and empowerment for Africans.

“With the secured funding, we look to not only provide services that include everyone financially but also upscale our agile ecosystem which ensures that our multidimensional offering remains a market leader."

He added that the credit facility would also help the organization's strategy to promote financial inclusion and independence through financial education.

“The interest and backing of our investors will enable us to grow our world-class team as we would be unveiling innovative products and services.”

According to a Central Bank of Nigeria (CBN) financial literacy report, the majority of Nigerians want training and information on financial concepts such as long-term financial planning, budgeting, financial products and services, risk management, the financial security of their dependents, and insurance.
To that end, the firm stated that the proceeds of the seeding facility will be used to improve Africa's financial inclusion and bridge the gap between the banked and unbanked in Nigeria.