Leading Nigerian tech founders have partnered with investors to raise $1.7 million in funding for Brass Banking, a Nigerian digital banking startup that seeks to address the underserved banking needs of local entrepreneurs across Sub-Saharan Africa.
Ezra Olubi, co-founder of Paystack, which was earlier acquired by Stripe, and Olugbenga “GB” Agboola, co-founder of Flutterwave, joined forces with Hustle Fund, Acuity Ventures, Uncovered Fund and Ventures Platform to raise the capital.
Brass Banking is a fintech startup that delivers easy access to affordable premium commercial-grade banking services for small- and medium-sized businesses. It helps create a current account for companies within 10 minutes, a service hardly obtainable with traditional banks.
The digital bank was founded by Sola Akindolu, former head of product at Kudi, and Emmanuel Okeke, former engineering manager at Paystack, in July 2020,
Brass will invest the funds in accelerating its expansion into South Africa and Kenya, Nairametrics reported.
Moreover, Brass plans to launch several new product categories, including an expansion of its credit-market presence as it seeks to broaden its customer base.
