Nigeria Sparkle raises $3.1M Seed Round

Nigeria’s life-style and monetary ecosystem app Sparkle has raised a $3.1 million seed spherical from a bunch of all-Nigerian buyers. The funding might be channeled in the direction of scaling the platform’s expertise groups throughout the sectors of engineering, monetary danger, advertising, and funding division used whereas investing in automated back-end processes and digital infrastructure. The spherical raises Sparkle’s whole funding up to now to $5.1 million.

The increase was led by Leadway Assurance, Trium Networks, and several other different Nigerian excessive community people in what made a powerful all-Nigerian investor group. Sparkle had beforehand raised $2 million in household and pre-seed rounds.

Since its 2019 launch, Sparkle has developed a digital-first person tribe providing entry to options reminiscent of financial savings, invoice funds, airtime/cable/utility/transport top-ups, skill to request or ship funds, splitting payments, overview spending breakdowns – all via the Sparkle App which is on the market on Google Play and the App Store.

From 2020/21 Sparkle skilled triple-digit progress and maintains concentrate on connecting Nigerians and the worldwide Nigerian Diaspora by constructing the sort of monetary companies platform aimed toward bettering the monetary life-style of its customers and permitting for borderless transactions. In 2021 Sparkle launched Sparkle Business, focused at a brand new era of digitized  Nigerian MSMEs and SMEs.

Sparkle Founder and CEO, Uzoma Dozie, spoke on the seed spherical mentioning that the group of buyers and enterprise builders are “bullish about Nigeria and the chance the nation presents by way of constructing international networks and communities.”

Sparkle has achieved vital progress and has been in a position to accomplice with totally different monetary gamers reminiscent of Visa, Community Worldwide, PriceWaterHouse Cooper Nigeria, even securing a license from Nigeria’s Central Financial institution.