TLDR:
- Nigerian fintech startup, Zone, raised $8.5m in a seed round to expand its coverage.
- The funding was led by TLcom Capital and Flourish Ventures, with additional capital raised from other investors.
A Nigerian fintech startup, Zone, raised $8.5m in a seed round to expand its blockchain-powered payment infrastructure. The funding, led by TLcom Capital and Flourish Ventures, will allow Zone to connect more banks and financial services companies domestically. The startup, part of the Appzone Group, aims to redefine payment infrastructure in Africa with its innovative approach. Zone has already signed up over 15 of Africa’s largest banks and fintech companies. With additional capital raised from investors like Digital Currency Group and Verod-Kepple Africa Ventures, Zone is well-positioned to accelerate its mission of enabling real-time payments within and across borders.
The CEO of Zone, Obi Emetarom, expressed gratitude for the investor interest and highlighted the commitment of the company to technological advancement in financial services. Flourish Ventures, an early-stage global fintech venture firm, will provide Zone with expertise in the African fintech market, facilitating expansion into new markets. The partnership between Zone and Flourish Ventures aims to set a new standard of reliability, speed, and cost efficiency in payment processing.
The leadership of Zone, consisting of veterans of the banking industry, instills confidence in investors like Flourish Ventures that the company can drive innovation in the sector. With plans to replicate their technology globally, Zone is poised to make a significant impact on payment infrastructure worldwide. The successful fundraise marks a pivotal moment for Zone as it embarks on a new phase of growth and innovation in the fintech industry.
