Last Updated: October 12, 2023
• Nigerian payments startup, Nomba, has raised $30 million via a pre-Series B that was led by Base10 Partners.
• The new solution will help the startup operate more efficiently and deliver “excellent customer experiences.”
• Nomba is already ranked among Africa’s best payment service providers, with an estimated monthly transaction value of approximately $1 billion.
Nigerian Payments Provider Nomba Secures $30 Million in Pre-Series B Funding Round
Nomba, a Nigerian payments startup, has raised a US$30 million pre-Series B funding round. According to a Disrupt Africa report, the startup’s oversubscribed equity round was led by San Francisco-based Base10 Partners. Helios Digital Ventures, Shopify, Partech, and Khosla Ventures also participated in the round.
Plugging Gaps in Payment Processes
As per the report, Nomba—which was previously known as Kudi—will use the investment to produce a payments solution that enables it to plug gaps in its payment processes. The new solution is expected to help the startup operate more efficiently and deliver “excellent customer experiences.”
Comments on the Successful Capital Raise
Yinka Adewale who co-founded the payments firm in 2017 said: “We see payment as a business model, not just a product and we want to make it easier for businesses to take advantage of all that is possible in their payment processes to support their continued growth and success.” Luci Fonseca from Base10 remarked: “We are thrilled to be supporting them to deliver their game-changing solutions to power growth and continued success for businesses in Nigeria and beyond.”
Standing Amongst African’s Best Payment Service Providers
Nomba currently stands amongst Africa’s top payment service providers with an estimated monthly transaction value of approximately $1 billion. This successful capital raise provides confidence about what can be achieved with more effective payment solutions in the hands of business owners.
The Nigerian payments startup Nomba has secured $30 million via a pre-Series B that was led by Base10 Partners which is expected to help them plug gaps in their payment processses while delivering excellent customer experiences. With an estimated monthly transaction value of approximately $1 billion they are already ranked amongst Africa’s best payment service providers.