Nigerian fintech startup OnePipe has raised a US$950,000 pre-seed funding round to execute on a “banking as a service” direction.
Launched in August 2019, OnePipe aggregates APIs from banks and fintechs into a standardised gateway that is easy to integrate and makes partnerships seamless.
This single gateway cuts resources spent managing multiple integrations and negotiating contracts, and is used by a little over 40 businesses on the demand side and four banks on the supply side.
OnePipe has now raised a US$950,000 pre-seed to help it expand this user base, with investors including Techstars, Atlantica Ventures, Future Perfect Ventures, Raba Capital, P1 Ventures, Ingressive Capital, Sherpa Ventures, Zedcrest Capital, DFS Lab and a handful of angels.
The startup will now focus on further developing its solution, which helps banks drive more revenue from their digital assets, and grow their fintech partnerships to increase customer deposits and transactions in a low-risk way. Fintechs, meanwhile, save time and money while growing their user base. OnePipe makes it easy to partner with more banks through a single integration.