Nigeria-based API startup raises almost 1 USD mln in pre-seed funding

Thursday 17 December 2020 13:50 CET | News

Nigeria-based API fintech startup, OnePipe, has announced that it raised almost USD 1 million in pre-seed investment.

The round was led by the team at US seed-stage accelerator, Techstars, and African impact-focused VC fund, Atlantica Ventures. Several institutional investors like Future Perfect Ventures, Raba Capital, P1 Ventures, and others also participated.

While participating with the Open Banking Nigeria group to bring awareness and drive policy around it, OnePipe created a gateway that pools APIs from multiple sources under a unified specification. According to the startup, this specification can be refined to fit the final standards once the awaited policies are actualised.

In July 2020, it also joined US seed-stage accelerator, Techstars, alongside nine other startups. And since launching in 2018, OnePipe has garnered the support and partnerships of banks and businesses. Some include Polaris Bank, SunTrust Bank, Fidelity Bank, and others. In addition to this, seven more banks will be onboarded soon.

The startup makes money by taking a cut from the fees charged to clients by partner banks and other institutions that publish APIs on the network. 

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Keywords: OnePipe, Nigeria, investment, startup, funding, API, Open Banking
Categories: Banking & Fintech
Countries: Nigeria
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