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    Flutterwave debunks Alleged Reports of Hacked Accounts

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

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    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

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    Flutterwave adds Google Pay to its Payment Options for African Businesses

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    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

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    FCCPC Orders Drawdown of Online Credit Companies

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

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    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

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    Flutterwave debunks Alleged Reports of Hacked Accounts

    Flutterwave debunks Alleged Reports of Hacked Accounts

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PICTDA announces Resumption Date for Code Plateau Cohort

    PICTDA announces Resumption Date for Code Plateau Cohort

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

  • FEATURED
    Nigeria’s Cash Swap Policy: Goals versus Results

    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

  • FINANCE
    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

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Infibranches Technologies Secures $2M Funding Backing From Shell

by Nuel Umahi
September 21, 2021
in News
Reading Time: 3 mins read
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Infibranches Technologies Secures $2M Funding Backing From Shell
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Infibranches Technologies Limited, a Nigerian startup that provides digital payment services to solar energy providers, on Monday, the 20th September, 2021 revealed that it has secured a $2 million funding from All On, an impact investment company backed by lead oil company, Shell.

Through its flagship products such as OmniBranches and Green Energy Plug – Infibranches has provided an aid for companies with large distribution networks, particularly Solar Home System (SHS) distributors and mini-grid developers, manage their operations in terms of payments.

According to Infibranches CEO, Olusola Owoyemi, OmniBranches has served over a million customers. Its features include agent hierarchy management, commission tracking, transaction records, transaction analytics, and profile management.

Green Energy Plug meanwhile is a single point of integration for payments and other financial services for service providers in the Nigerian renewable energy sector. Through the platform, companies can receive payments for solar and other green energy products.

Infibranches’ single payment integration solution for solar providers helps facilitate payment collection through agent networks across the country while taking energy and financial access to the last mile. The All On investment is meant to aid the company’s mission to bridge the energy distribution gap in underserved rural and peri-urban areas of Nigeria.

As expected, All On’s funding will, “trigger the next phase of Infibranches’ growth” by financing inventory and agent acquisition, product and technology development as well as providing working capital, a joint statement released by both companies said.

“We are particularly thrilled about this deal because it’s an innovative business model that solves the payments and collections problems that solar system distributors and mini-grid developers face across Nigeria,” said Dr. Wiebe Boer, chief executive, All On.

“This partnership merges fintech and renewables in a way we haven’t seen in Nigeria before and will enable tens of thousands of new electricity connections.”

Owoyemi adds that the company will speed up its customer acquisition in current markets, improve existing products like Omnibranches, and introduce new products and services to address energy distribution issues.

In 2018, Shell Foundation, USAID, and UK Aid launched the Nigerian Off-Grid Market Acceleration Programme (NoMAP), a not-for-profit initiative tasked with tackling market barriers limiting the growth of the off-grid sector, where several companies are working to extend access to the millions of Nigerians still without energy.

With the investment, NoMAP will be working with Infibranches to tackle energy distribution challenges, in addition to broader off-grid market challenges in Nigeria.

“The initiative’s work with Infibranches has shown how important it is to continue addressing market barriers, enabling enterprises to more quickly expand their life-changing energy solutions to households and SMEs across Nigeria,” Sam Parker, chief executive of Shell Foundation, said.

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