C-One Ventures Acquires Bankly, with the CEO Set to Remain in an Advisory Role

Big news in Nigeria’s fintech world: C-One Ventures acquires Bankly, a well-known Nigerian fintech company and licensed microfinance bank. This means C-One Ventures now fully owns Bankly’s Nigerian operations. The CEO of Bankly, Tomilola Majekodunmi, will stay on but in a new role as an advisor to help with the changes ahead.

C-One Ventures acquisition of Bankly is an important step for both companies. C-One Ventures is an investment company that focuses on technology and finance in Nigeria. By bringing Bankly into its family, C-One Ventures plans to mix Bankly’s services, licenses, and talented team with other companies it already owns. This will help create better financial products for Nigerians.

Bankly has been around since 2018 and was started by Tomilola Adejana and Fredrick Adams. The company began with a simple idea: let people save money digitally by using vouchers, similar to how people buy mobile airtime. Over time, Bankly grew to help millions of Nigerians who don’t have easy access to banks. They offer safe ways to save money, make payments, and even get credit. One of their smart ideas is the group savings feature, which helps people save together in a clear and trustworthy way.

With over 50,000 agents across Nigeria and more than 2 million customers, Bankly has played a big role in helping people, especially those in rural and low-income areas, join the formal financial system. The company also recently raised $2 million in seed funding, showing that investors believe in their mission.

Now, with the C-One Ventures acquisition of Bankly, the company will join forces with other fintech businesses like Fulcrum, GetPayed, and gomoney. These companies offer services like working capital for suppliers, payment apps, and digital banking. Together, they aim to make financial services easier and more available to everyone in Nigeria.

Tomilola Majekodunmi, the CEO of Bankly, said she is proud of what the company has achieved. She believes that joining C-One Ventures will help Bankly keep growing and reach even more people with financial solutions. She will continue to support Bankly in an advisory role during the transition, making sure everything goes smoothly.

This deal shows how important technology is becoming in Nigeria’s financial world. By combining Bankly’s strong network and experience with C-One Ventures’ resources, more Nigerians can get access to banking services that were once hard to find.

C-One Ventures has acquired Bankly to build a stronger, more connected financial system in Nigeria. With the CEO set to remain in an advisory role, Bankly’s mission to help people save, pay, and borrow money will continue to grow under new ownership. This is exciting news for anyone interested in the future of finance in Nigeria.

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