Nigerian startup raises $2.1 million

Nigerian startup, Thepeer has announced its seed round of $2.1 million as the company looks to set on onboarding more businesses across the continent and increasing its product offering.

Thepeer was set up back in 2021 by Nigerians Kosisochukwu Chike Ononye (Co-Founder and CEO) and Michael ‘Trojan’ Okoh (Co-Founder and CTO) to enable businesses to share information via an API after they realised that they could not send money between fintech wallets.

The Nigerian company currently serves about 17 businesses across Africa, including Nguvu Health, Buyfoods, Chipper Cash, Bitsika and Eversend.

Thepeer’s recent seed round was led by an early investor in Flutterwave and Stitch, Raba Partnership, whose founder George Rzepecki explained their decision in investing in the one-year-old start-up.

“The opportunity that Thepeer is addressing reminded us of the fragmented card and mobile money payments landscape Flutterwave identified six years ago,” George said

“Today, with the proliferation of consumer and B2B fintech across Africa, Thepeer is building a foundational API-based payments layer where fintech can enable money movement natively from within their respective wallets and apps.”

“We are incredibly excited to support this ambitious team building a next-generation network.” the Raba Partnership founder concluded.

In addition to Raba Partnership, Rallycap, Timon Capital, BYLD Ventures, Sunu, Musha Ventures, and Uncovered Fund invested in this round, while African fintech Chipper Cash and Stitch also participated.