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This new capital will enable the company to deliver more solutions for businesses in Nigeria, across Africa and in other markets, as the opportunities may emerge.
According toYinka Adewale, CEO and cofounder of Nomba, 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.
For transport and logistics companies, Nomba solutions will enable them to directly connect their transactions to payments, creating a more seamless experience that increases sales and profitability.
Starting in Nigeria, Nomba will also deliver a range of business tools, including invoicing and order management solutions to improve efficiency and reduce cost of operations for businesses across the continent.
Since launching in 2016 as Kudi.ai, a chatbot integration that responds to financial requests on social apps, Nomba has evolved over the years into a profitable, omnichannel payment service provider.
The company processes 1 billion in monthly transactions, which represents a market leading gross transaction value (GTV) for a payment service provider in Africa.
Before this funding round, Nomba had only previously raised 5 million in funding, leveraging those funds to successfully grow the business and efficiently deliver solutions that have positively impacted hundreds of thousands of businesses across Nigeria.