The dominance of technology in every sphere of our lives has made it easy for new innovations to spring up frequently, the latest one in the Nigerian financial sector is Fundall, an all in one financial services provider.
Launched in beta with over 300 early adopters in May, Fundall provides savings and investment services, SME credit and short term loans, an open e-commerce platform, debit and credit card solutions, and other premium financial services to users.
Chief executive officer (CEO) Taiwo Obasan said Fundall was focused on educating its customers about various financial services, helping them access different products, and providing them with an aggregated view of their assets and liabilities.
“The startup has undergone diverse pre-launch product ideation and iteration in order to finally develop a well-tailored product for young Africans, with its focus on creating access to premium financial services and also helping young Africans build and scale their micro-businesses and side hustles,” he told Disrupt Africa.
The bootstrapped Fundall has raised small amounts of funding, and is currently only active in Nigeria. Obasan said its “big vision” was to enter other African markets in a few years.
“The business makes money from the spread on the difference between the investment returns and promised user return and the interest receivables from loans,” he said.