CrowdForce began in 2015 as MobileForms and was founded by Oluwatomi and Damilola Ayorinde. The company operates MobileForms data products and PayForce, a POS-enabled system that lets merchants double as agents to provide ATM services, transfers and bill payments in areas with limited bank presence. CrowdForce partners with brick-and-mortar businesses (notably gas stations, pharmacies and reseller networks) to source liquidity and store cash on PayForce digital wallets. The company reports partnerships with 19,000 fuel stations, 20,0000 resellers and 6,000 pharmacies and says it leverages more than ₦1.7 trillion via partners. CrowdForce says it has been cash-positive since 2020, is growing about 25% month-on-month, and serves 1.9 million unique customers across 25 Nigerian states. The firm plans to use new capital to expand its team, geographic operations and marketing, triple its 7,000-strong active agent network this year, and distribute more POS terminals over the next 12–18 months to bring services within one kilometer (15 minutes) of all Nigerians.

Total raised

$4M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2022