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TeamApt: Story, Founders, Investors & Funding Rounds

TeamApt: Story, Founders, Investors & Funding Rounds

TeamApt Limited is a financial technology company based in Lagos, Nigeria. Their goal is to make people happy with their money by building digital banking, business solutions, and payment infrastructure for Africa. Zenith, ALAT by Wema, UBA and First Bank, GTBank, and Access Bank are some of their customers.

It is a company that also develops digital banking, business solutions, and payment infrastructure.

TeamApt is also focused on the rest of the world. This is because It has a diverse group of the backend, frontend, reliability, quality assurance, and distributed data storage engineers who work together to make sure that key solutions and products for our clients are built in a way that is secure, scalable, and reliable.

With the company’s end-to-end integrated digital banking service and business solutions, which include online and mobile interfaces that track digital transformation activities, businesses and individuals may be able to better manage their finances.

Moneytor is a digital banking solution for banks that lets them keep an eye on transactions through online and mobile interfaces. Monnify is an enterprise software package for small businesses that helps them run their business.

How it Works

TeamApt has been able to get two digital products, Moniepoint and Monnify, out into the world. Moniepoint’s network of mobile money agents and POS terminals can be used to withdraw and deposit cash, transfer funds, buy airtime, and pay bills, among other things.

Moniepoint is one of Nigeria’s largest non-bank mobile money providers. It claims to provide 400 billion transactions each month and has more than 30,000 registered agents in all 36 states across the country

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Monnify, on the other hand, is a payment gateway that lets companies collect one-time or recurring payments from clients. The Monnify platform is used by more than 16,000 companies, and each month it handles more than $50 billion in transactions.

Additionally, BuiltWith did a study and found that TeamApt uses 68 different technologies on their site. Some of these are Viewport Meta, iPhone/Mobile Compatible, and SPF.

Founders

Tosin Eniolorunda

Tosin went to college and got a Bachelor of Mechanical Engineering from Obafemi Awolowo University in 2007.

In 2005, he was an intern at Schlumberger Limited. In 2009, he got a job as a Software Engineer at Interswitch.

He went on to have a successful career there, holding positions like Senior Software Manager, Unit Head of Application Development, and Product Manager.

As the founder and CEO of the company, Tosin Eniolorunda wants to help African banks, businesses, and people better manage their money by making and running financial software.

His ambition is all about making people’s lives better all over the world by making it easier for banks, businesses, and people to pay, collect, grow, and manage money.

Investors & Funding Rounds

Quantum Capital Partners

Quantum Capital Partners, a company that invests in financial services, was one of the first to use financial technology and insurance technology.

Over 100,000 Nigerian businesses have joined TeamApt, which handles transactions worth US$160 million every month and has more than 3 million clients. In the last three years, the company’s income has grown by 4,500%. It has now received Series A capital to help it grow.

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In 2019, the company got Series A financing for about $5.5 million. Its 2020 analysis also showed that it would process $160 million in transactions worth $3.9 billion and worth $160 million each month.

TeamApt will use the US$5.5 million round headed by Quantum Capital Partners to rapidly grow into new areas while investing in product development, talent acquisition, and internal operations expansion.

Competitors

Paymob: This is a way for businesses in developing countries to accept payments both online and in person.

PaySika: This financial technology start-up is making mobile and web-based banking tools for French-speaking Africa.

Tuum: This is a cloud-based banking platform that can be used to start a new bank or make digital changes to an existing one.

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