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Thepeer, An Api-Based Startup That Connects African Businesses, Raises $2.1M, Led By Raba Partnership

Jun 22, 2022•about 3 years ago

Amount Raised

$2.1 Million

Round Type

seed

Software

Description

Thepeer, an African tech infrastructure startup connecting businesses’ wallets, has raised a $2.1 million seed round led by the Raba Partnership. The news comes a year after the startup raised $220,000 in pre-seed from a handful of angel investors, including Paystack CTO Ezra Olubi and Edenlife CTO Prosper Otemuyiwa.

Company Information

Company

Thepeer

About

The news comes a year after the startup raised $220,000 in pre-seed from a handful of angel investors, including Paystack CTO Ezra Olubi and Edenlife CTO Prosper Otemuyiwa. The one-year-old fintech startup has seen an average month-on-month transaction growth of 161% since its launch. According to Ononye, the startup is looking to roll out more functionalities and wallets in other currencies (its current platform deals with Naira wallets) as well as hire more talent and invest in product development. Thepeer says its APIs provide an alternative network where fintechs and businesses can embed different sets of products into their applications and websites for easy money movement by their customers. Thepeer isn’t a pure fintech play; it sits at the intersection of data and finance. As a user of Nguvu Health, there are different methods to fund a wallet, such as cards and bank transfers; Thepeer is another option.