Nigerian fintech startup, Fundall, has raised pre-seed funding of $150,000 from a group of investors led by Black Knight Capital, which will propel our launch, acquisition of a Microfinance Bank, as part of steps to further strengthen its operational framework and license to surpass both regulations and customer service expectations.
Fundall is a new entrant in the digital banking space and it claims that its goal is to help people make smarter decisions with their money. According to the Founder, Kolapo Joseph, “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”.
The company started in 2019 with a loan feature on the platform, followed by the Savings and Wallet. Earlier this year, they added the budget and payments components to arrive at what they call a “full-function banking service that accommodates everything you want to do with money.”
Fundall claims to have about 11,000 customers and with this funding, the company hopes to release new products and grow its customer base.
Fundall would certainly be facing incumbents such as Kuda, Alat, Sparkle and more so it needs to come up with a unique selling point to overcome competition.
