NowNow, a Nigerian digital system company, has received a seed round of $13 million.
NeoVision Ventures Ltd., DLF Family Office, and Shadi Abdulhadi led the fundraising round.
With the additional capital, the business plans to increase financial inclusion and empowerment across Africa, as well as develop new products that will complement its present services.
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“Today we announce that we have moved to the next stage of our commitment to drive financial access and empowerment for Africans at the last mile. With the secured funding, we look to not only provide services that include everyone financially but also upscale our agile ecosystem which ensures that our multidimensional offering remains a market leader. The credit facility will also support our unique strategy to advance financial inclusion and independence through financial education. The interest and backing of our investors will enable us to grow our world-class team as we would be unveiling innovative products and services,” the CEO and Co-founder, Sahir Berry, said.
Why The Investors Invested
Gary Peters, the managing partner of Capital V Ltd, said:
“One of the key elements that propelled us to invest in NowNow through one of our funds is based on the founders’ tenacity to grow the company to a viable level, as well as overcoming many challenges and market cycles since its inception in 2018. Its core business and vision of digitizing the African region through facilitating daily payment services is also another important element. Whenever we meet a company founder like Sahir Berry, whose leadership’s vision aligns with Capital V’s fund of funds strategy to back disruptive and high-potential start-ups, especially in emerging markets like Africa, the decision process becomes easier.”
A Look At What The Startup Does
NowNow, founded in 2018 by Mahesh Nair and Sahir Berry, is a Fintech platform that allows users to easily send and receive money, acquire airtime, and pay bills.
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It stated that it focuses on increasing financial inclusion in Africa and bridging the gap between the banked and unbanked in Nigeria.
The business stated that it has always worked tirelessly to deliberately develop a dynamic ecosystem of experiences within and outside mobility for its customers.
NowNow digital system
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexpert