Nigerian fintech startup GladePay has launched to help facilitate payment collections by merchants by allowing them to receive funds from multiple channels.
Rolled out in beta in October of last year and formally launched this February, GladePay allows businesses to easily accept cross border payments with simple integration and high-end security, and also offers a robust dashboard that provides business intelligence, reconciliations, and reports.
Co-founders Liyi Victor and Abubakar Ango Siddiq had previously worked together on deals platform payIT, but launched GladePay to address issues they had witnessed in the market.
“We noticed that businesses have a problem in providing different payment options for their customers, like expensive payment fees, cash handling risk, and security challenges. So we built a solution that will solve these problems via a single API,” Victor told Disrupt Africa.
“Another thing we noticed is that young digital entrepreneurs find it difficult to build and provide financial services to their customers. So we built a white label product that will enable them to build easily, save cost and launch to market faster.”
GladePay has already processed payments from over 1,000 businesses, and is on the lookout for seed funding after raising initial cash from angel investors and The Baobab Network.
“The uptake has been very exciting,” said Victor. “Currently, we focus on the Nigerian market, but we plan to partner with other financial institutions and expand to other African markets in the near future.”