Anchor, a Nigerian fintech startup aimed at expanding the financial choices of Africans has $2.4 million in a seed round.
The round was coordinated by Goat Capital, FoundersX, Rebel Fund, Pioneer Fund, Y Combinator, Byld Ventures, Future Africa and other undisclosed participants.
“We’ve been fortunate to have been able to just grow the platform very quickly, which we believe confirms that there was actually a problem to be solved. And we just want to double down with this new funding,”Segun Adeyemi, CEO and Co-founder of Anchor said in a chat with TechCabal.
The company divulged that the pre-seed round would be used in contributing to the expansion of the platform’s product services. The company ensures developers the ability to build specially designed products like bank accounts, wallets, fund transfers, card, savings, credit products and investments. It also provides a well documented API and developing tools.
About the Company
Anchor was publicly launched in August 2022, in Nigeria. With a generated capital of a $1 million pre-seed round and its selection for the summer cohort of Y combinator. It was Co-founded by Segun Adeyemi, Olamide Sobowale and Gbeke Olufotebi.
The company announced that it had just reached the target of over $550 million in annualized total transaction volume (TTV), with a revenue growth of 30% monthly.
Anchor essentially provides APIs for creating bank accounts, funds transfers, savings products, issuing cards and offering loans. The company has made tons of innovative progress over time and plans to expand more with the funding series.
In addition, the company will be growing its customer base beyond fintechs with an intent to combine other businesses.