QED Investors has made its first investment into the African market with TeamApt.
In Brief:
Nigerian FinTech TeamApt has raised over $50mn in its latest funding round.
The round included QED as well as existing investors Novastar Ventures, Lightrock and BII.
TeamApt offers a business solution to provide SMBs with digital payments acceptance channels.
What does this mean?
This marks QED Investors’ entry into the African FinTech market. Partner and Head of Africa at QED, Gbenga Ajayi, commented: “Enabling a growing digital form of payments for merchants and consumers in Nigeria is exciting, but being able to deepen the financial capability of these merchants, providing them with the everyday tools and credit they need to run their businesses, will be profoundly impactful.”
