Transaction Summary
C-One Ventures, a Nigerian fintech-focused investment firm, has fully acquired Bankly Microfinance Bank Limited (Bankly), a Nigerian fintech and licensed microfinance bank that digitises the traditional savings systems popular in the informal sector. Bankly, founded in 2018, provides a mobile-based platform that allows unbanked and underbanked individuals to save money, make payments, and access micro-credit. The company has served millions of individuals and businesses across Nigeria with a nationwide agent network, enabling customers to deposit and withdraw cash with ease. C-One Ventures intends to integrate Bankly into its broader fintech portfolio, including gomoney (digital banking), GetPayed (payments), and Fulcrum (supply-chain finance), to create a connected suite of financial products spanning digital banking, payments, lending, and agent networks. The transaction required Central Bank of Nigeria (CBN) approval as Bankly holds a microfinance license.
Terms
- Buyer: C-One Ventures
- Buyer Type: Financial Buyer
- Fund Managers: C-One Ventures
- Target: Bankly Microfinance Bank Limited
- Transaction Type:
