Nigerian fintech firm TeamApt raises $5M, eyes global expansion
Nigerian fintech startup TeamApt has raised $5.5 million in capital in a Series A round led by Quantum Capital Partners.
The Lagos based firm will use the funds to expand its white label digital finance products and pivot to consumer finance with the launch of its AptPay banking app.
Founded by Tosin Eniolorunda, TeamApt supplies financial and payment solutions to Nigeria’s largest commercial banks — including Zenith, UBA, and ALAT.
For Eniolorunda, launching the fintech startup means competing with his former employer, the later stage Nigerian tech company Interswitch.
The TeamApt founder is open about his company going head to head not only with his former employer, but other Nigerian payment gateway startups.