Nomba, a Nigerian payments organization, recently raised $30 million from Base10 Partners as part of their pre-Series B. This money will help the business work more smoothly and make sure that their customers have an awesome experience.
Nomba Raises $30 Million
Nomba, a Nigerian payments company, was able to raise $30 million before they do their Series B round. They did this by having an equity round where the investor (Base10 Partners) gave them more money than expected. Other investors like Helios Digital Ventures, Shopify, Partech and Khosla Ventures were involved in the round too.
Nomba, formerly known as Kudi, will use the new investment it has gotten to create a payment system that can help them run efficiently and deliver great customer service. Yinka Adewale, who co-founded the company in 2017, says he is pleased with their achievement of raising capital.
We think of payment as an important way for businesses to grow, not just a product. That’s why we want to make it easier for businesses to use all their payment processes better and become more successful. We’ve got lots of products in the works and have already raised lots of money with investors who believe in our ideas of improving payments.
Luci Fonseca, a partner at Base10, said that she was really excited that her organization supported Nomba, because of their great record in creating innovative services with very little money. She also mentioned that they plan to help the payment company reach their goals and expand its business in Nigeria and everywhere else.
Nomba is already one of the best payment service providers in Africa because according to government estimates, it makes around $1 billion worth of transactions every month.
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