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By Adedapo Adesanya

NowNow Digital Systems has raised $13 million in its funding round to improve financial inclusion across Africa by providing financial services to unbanked and underbanked people on the continent.

The funding round led by NeoVision Ventures Ltd., DLF Family Office and Shadi Abdulhadi heralds NowNow’s plans to scale and expand its service offerings across Africa.

With the newly secured funds, NowNow will drive financial empowerment and introduce new products that will further enhance its already existing consumer banking, agency banking and merchant payment solutions.

Equipped with a rapidly growing product suite and a highly agile technology platform, NowNow seeks to create the world’s best technology that digitizes cash payments for Africans.

Speaking on this, Mr. Sahir Berry, CEO/Co-Founder of NowNow, shared NowNow’s renewed commitment and vision to include everyone financially.

“Today, we are announcing that we have taken the next step in our commitment to driving financial access and empowering Africans at the last mile. With Secured Funding, we not only seek to provide services that include everything the world financially, but also to scale our agile ecosystem that ensures our multidimensional offering remains a market leader.

“The credit facility will also support our unique strategy to advance financial inclusion and independence through financial education. Interest and support from our investors will allow us to grow our world-class team as we unveil innovative products and services,” said Berry.

For his part, Mr. Gary Peters, Managing Partner of Capital V Ltd, said: “One of the key elements that prompted us to invest in NowNow through one of our funds is based on the tenacity of the founders to make growing the business to a viable level, while overcoming many challenges and market cycles since its inception in 2018. Its core business and vision of digitizing the African region by facilitating everyday payment services is also another important element.

“Every time we meet a business founder like Sahir Berry, whose vision of leadership aligns with Capital V’s fund-of-funds strategy to support disruptive and high-potential start-ups, particularly in the markets emerging countries like Africa, the decision-making process becomes easier.”

NowNow is focused on solving everyday financial challenges by creating the largest fintech ecosystem in Africa and supporting the goal of financial inclusion on the continent.

The fintech platform was recently selected to participate in the Mastercard Start Path Global program created to help late-stage startups innovate and scale.

Proceeds from NowNow’s seed round will focus on improving Africa’s financial inclusiveness and help bridge the gap between the banked and unbanked in Nigeria.

African FinTech Business-to-Business (B2B) and Business-to-Company (B2C), recently partnered with Lagos Business School (LBS) Sustainable Inclusive Digital Financial Services (SIDFS) to launch a financial education and literacy aimed at driving the growth of financial inclusion in Nigeria. NowNow will use the rich data, library content and resources of SIDFS to provide financial and digital literacy tools to its customers to enable smart financial planning.

NowNow claims to be on a mission to provide best-in-class financial services to SMEs, bank agents and consumers, and to provide financial empowerment to Africans.

Some of NowNow’s clients in Nigeria have never had a bank account, so it is the company’s social mission to provide the right educational support. With this funding, NowNow aims to advance the introduction of other innovative solutions in the region to help create a more financially inclusive continent.

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