Pivo, an African neo-bank for supply chain businesses, has announced a $2 million seed financing to extend its product offerings, in addition to a $550,000 pre-seed round raised earlier in 2022.

Precursor Ventures, Vested World, Y Combinator, FoundersX, and Mercy Corp Ventures are among the investors in this round for the startup, which was part of Y Combinator’s S22 group. With this new round of funding, the firm intends to expand beyond Lagos, where it is now based, with East Africa on the horizon.

The startup was founded in 2021 by Nkiru Amadi-Emina and Ijeoma Akwiwu to provide financial services to African supply chain businesses.

Pivo bank

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://insightsbyexperts.com/view_expert/charles-rapulu-udoh