Mission – to build the API infrastructure to digitally connect all of Africa to the rest of the world.

Vision – to create a world where the movement of money is instant and as easy as sending a text message.

Website

www.fincra.com

Active since

2019

Head office

5a Gerrard Road, Ikoyi, Lagos 106104, Lagos, Nigeria

Country offices in

Nigeria, UK, Canada, Kenya, Uganda, South Africa, Ghana.

Geographical coverage (operational area)

Africa, Europe, UK, Canada, US.

Founder(s)

Wole Ayodele (Founder), Gideon Orovwiroro (Co-founder).

Funding rounds and investors

Pre-Seed, Techstars.

Number of employees

100+

Member of industry association and/or initiatives

Member of the Nigerian-British Chamber of Commerce.

Awards

Global Brand Award Winner 2023 – Fastest Growing Online Payment Platform Nigeria.

Contact

0916 982 3255 / marketing@fincra.com

Core solution

The company`s core solutions

Fincra is a global payment infrastructure that provides pay-ins (collections), payouts (transfers/disbursement), and cross-border settlement solutions to businesses in various markets, allowing them to collect and process payments both locally and globally effortlessly – with one single integration.

Major use cases & products

Accounts, Payments, Remittances, Treasury digital banking, KYC, Card acquring, Payroll.

Specialisation/Verticals

PSSP, Digital bank, Cross-border bank, Freelance, Ecommerce, Online Marketplace, Payments.

Competitive advantage

• All-in-one infrastructure, multiple products & currency rails;

• One integration solves the cross-border problem of moving money in and out of Africa;

• Access to FX conversion without hidden fees;

• Access to Domestic rails – SEPA, Instant SEPA, ACH, SWIFT.

Target market

Target customers

Fintech, Financial Institutions, FMCG, Betting, Ecommerce, Marketplaces, Freelance, Forex, Global Business, Logistics/Mobility, Consulting, Education, Enterprise, SaaS, Money Transfer, Large corporates, Manufacturing, Retail, Oil Gas, Government, Healthcare, Travel, Hotel and Hospitality, Not-for-profit/Non-profit, Gaming.

Current customers

Lemfi, Exness, TapTapSend, 1XBet, Eversend, Jiji Online, Nala, Tazapay, Verto, Nairagram, Raenest.

Technology

Technologies/tech stack/capabilities

APIs

Partners

Go-to-market strategy

We attend industry-relevant events to reach potential customers, work with media outlets in specific locations, partner with banks and financial institutions, and do content marketing 

Operating model

Category

Payment Infrastructure, Full-stack BaaS provider, Embedded Finance.

The key layers that the provider is active in

Technology – the company has this in-house

Licence

• Bureaux de Change (BDC);

• Payment Solution Service Providers (PSSP);

• International Money Transfer Operators (IMTO) (Nigeria);

• Money Services Business (MSB) (Canada);

• Third Party Payment Provider Licence (South Africa);

• Electronic Money Institution (EMI) (United Kingdom).

Risk mitigation strategies and responsibilities

Compliance and risk management programme

We have an Enterprise Risk Management Framework; Fincra conducts thorough KYB/KYC checks, adhering to AML/CFT policies. Dentons handles international compliance, while its in-house team performs regular assessments. Transactions are monitored and reported regularly.

Actions taken to reduce or prevent the negative impacts of potential risks

PCI DSS certified, ISO 27001 and 22301 certified, ISMS, BCMS, chargeback management.

Business model

Pricing model

For more details, please contact our sales team at sales@fincra.com

Revenue streams

Through processing of payments for businesses/merchants.

Case studies

Examples

Native Teams , Lemfi , Glover , TitanXchange

Product roadmap

Existing features

• Pay-In – checkout, payment links, virtual accounts; 

• Pay-Out – bank accounts transfer, mobile money transfer, Fincra balance-to-balance transfer; 

• FX Conversion – quotes generation, pure conversion, cross-border payout;

• Identity Management;

• Conversion & Settlements.

Planned features and releases

International Card Acquiring – USD, EUR, GBP, CAD.