Nigerian Banking-as-a-Service platform Anchor has successfully raised $2.4 million in seed funding from prominent investors, including Goat Capital, FoundersX, and Rebel Fund, along with existing supporters Y Combinator and Byld Ventures.
The fintech emerged from stealth mode a year ago with over $1 million in pre-seed funding. Over the past year, it has provided banking APIs to approximately 50 companies, facilitating transactions exceeding $500 million.
Founder Shakima Diabi states that the company is currently onboarding an additional 200 businesses. “Today, less than 50% of adults have access to basic banking products, and more than 90% of transactions still occur in cash. Despite the growth of fintech in recent years, challenges persist,” he remarks. “With this funding, we plan to invest in our compliance infrastructure, onboard new customers, launch new products, and expand into new markets.”