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C-ONE VENTURES ACQUIRES BANKLY

Nigerian Fintech Company, Bankly, has announced the full acquisition of its Nigerian operations by C-One Ventures. The deal will see Bankly’s services, licenses and talent integrated with complementary offerings from other companies within the C-One Ventures portfolio.

C-One Ventures is an investment company with a specific focus on technology and financing in Nigeria. The company’s existing portfolio includes Fulcrum, a technology and financing platform that unlocks working capital for suppliers in Nigeria through payable finance and other supply chain financing (SCF) products; GetPayed, an all-in-one app for managing payment and banking solutions; and gomoney, a digital bank offering a modern, app-based alternative to traditional banking. The addition of Bankly further strengthens C-One Ventures commitment to technology-enabled financial services for businesses and individuals.

Since it was founded in 2018, Bankly has made strides in bridging the financial gap for Nigeria’s unbanked and underbanked populations by offering secure, digital alternatives to informal savings methods like “ajo” or “esusu.” Through its platform, the company provides services including savings, payments, and access to credit – integrating more individuals into the formal financial system.

With an extensive network of over 50,000 agents nationwide and a customer base of over 2 million individuals and businesses across Nigeria, Bankly has played a pivotal role in advancing financial inclusion and economic empowerment of millions, particularly in low-income and rural communities.

As part of the acquisition, C-One Ventures will assimilate Bankly’s licenses, talent and its rich partner platform. A reorganization and restructuring process is underway to seamlessly integrate Bankly into the C-One Ventures family and Bankly CEO, Tomilola Majekodunmi, will continue to support the transition in an advisory capacity.

Speaking on the acquisition, Tomiliola Majekodunmi, CEO and co-founder of Bankly, expressed her delight in the fintech’s achievement over the past six years.

“I am immensely proud of what we have achieved at Bankly over the last six years. Bankly was founded with a mission to drive financial inclusion to the last mile and we have certainly made significant progress on that front. Like any business, we’ve faced our share of challenges, but I’m confident that this acquisition will keep the Bankly vision alive and further advance our mission of empowering more Nigerians through inclusive financial solutions,” Majekodunmi said.

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