Nigerian fintech Vesicash has raised an undisclosed quantity of funding from Lagos-based investor Ingressive Capital.
The startup supplies a digital escrow service which helps offering cost safety for these concerned in on-line market transactions.
Tech publication Disrupt Africa reported yesterday in an article that the startup raised $100 000 in pre-seed funding in 2018, and has now raised a bigger spherical from Ingressive Capital.
The publication stated the brand new funding will assist the startup to develop its buyer base and safe key partnerships.
The most recent funding raised by Vesicash follows a $100ok spherical from Ingressive Capital in 2018
Veiscash was based in 2018 by Ibrahim Oladele, Ehiaghe Aigiomawu and Oluwatomisin Adeshiyan. The startup started operations in March final yr.
The startup’s CEO and co-founder Ibrahim Oladele advised Ventureburn in an e mail right now that the deal was concluded “a number of weeks in the past”.
Whereas he stated the startup is producing income, he declined to supply income figures.
“We began with our cash and ran the corporate for a number of months earlier than we obtained an angel funding. We spent between $15 000 and $20 000 of our (personal) private cash,” he stated
The startup was a part of the final Greenhouse accelerator cohort and HiiL justice entrepreneurship accelerator on the Hague, in The Netherlands.
Stated Oladele “Our plans for 2020 are centered on bringing our price nearer to customers by way of company partnerships and creating higher merchandise expertise for the customers, thereby setting the corporate on the trail to development and stability”.
Featured picture: Vesicash through Fb