Nigerian fintech startup Bridgecard raises $440,000 in pre-seed funding
Nigerian fintech startup Bridgecard has raised $440,000 in pre-seed funding to expand its user base and grow its platform.
Co-founded by Owumi Festus and Tunde Adewole, card deck merges a user’s cards, bank accounts and fintech wallets into one card and app, allowing users to transact online, pay bills and withdraw from any linked account.
After a private beta where Bridgecard launched to 120 users and processed a transaction volume of over $70,000 in two months, the startup recently launched publicly. It has now raised US$440,000 in pre-seed funding with participation from companies like ABV Fund, Ingressive Capital, Voltron Capital, Venture Platform, Velocity Digital and Berrywood Capital.
Other angel investors in the round include Johnson Yaya, Kennedy Ekezie and Duke Ekezie of Kippa, and Miracle Anyanwu.
Bridgecard will use the funding to increase the number of bank accounts that can be linked to it, expand to support crypto wallets in supported countries, get the product into the hands of more people, and better troubleshoot online and card payment issues.
“We created Bridgecard because it is quite difficult to have a single bank and even more difficult to manage funds in several bank accounts. We wanted to solve this problem by creating an operating system for money, an application where you could spend, send and see the money in all your bank accounts and wallets,” said Adewole.
“We also wanted to provide our users with a single card that could support all your online and offline transactions. Bridgecard has gone from being a mobile app that my co-founder and I used to make our lives better to something that has engaged over 5,000 people. We really look forward to solving this problem for every African.