Nigerian paytech Nomba raises $30m in pre-Series B round
Nomba, a Nigerian payment services provider for African businesses, has secured $30 million in a pre-Series B funding round led by Base10 Partners.
Nomba raises $30m in pre-Series B funding
The equity round also saw participation from Helios Digital Ventures, Shopify, Partech and Khosla Ventures. The firm had previously raised $5 million in Series A funding.
Nomba launched in 2016 as Kudi, a chatbot built to answer financial requests on social media apps, and has since evolved to provide point-of-sale terminals, sales management and banking tools for businesses to accept offline and online payments. It claims to serve over 300,000 businesses and process $1 billion in monthly transactions.
With the new funding, Nomba plans to offer payment solutions that are designed for specific business services, helping companies ease their payment processes, increase efficiencies and offer better customer experiences. The company also plans to expand its presence in Nigeria and across other African markets.
Yinka Adewale, CEO and co-founder of Nomba, says the firm has a “long list” of products it has been working on, and that the funding will allow it to provide “more effective” payment solutions to businesses.
