Duplo digitizes payment flows for African B2B enterprises, enabling companies to collect from clients and pay suppliers while integrating with accounting and ERP platforms like SAP, Microsoft Dynamics, QuickBooks and Sage. The company began commercial rollout with FMCG distributors, who onboard retailers onto Duplo to collect payments digitally and access real-time business insights. Duplo serves finance teams at midsize and enterprise businesses by automating invoice generation and processing, bill approval, collections, disbursements and account reconciliation. The startup says businesses can cut reconciliation time by up to 50% and reduce payment-related costs by up to 85%. Duplo has expanded cross-border settlement capabilities to regions including the U.S., U.K. and Europe with settlement times of 24–48 hours, and reports a 1,000% increase in businesses on its platform over three months and 4,200% TPV growth over five months. The company is YC-backed and raised new capital to launch products and expand into additional verticals such as construction and telecoms. Duplo provides a payments and reconciliation platform that lets distributors create unique virtual accounts for retailers and agents to make real-time payments or bank transfers, with automatic reconciliation. The product includes a no-code tool for trade optimization, invoicing, embedded payments, credit/BnPL capabilities and dashboards that attribute payment flows to customers, retailers or locations. Duplo launched a pilot three months ago and reports customers saw cost savings of more than 12% during that period. The company says it has grown 60% month-over-month to serve 20+ enterprise customers and has processed over $380,000 to date, with a target of $40 million in annualized TPV by the end of Q2. Duplo charges a 1% fee per transaction and fees of ₦100–₦1,000 to create virtual accounts depending on business size. The team plans to use the investment to improve product, tech and sales and to expand beyond FMCG into sectors such as travel, farming, B2B marketplaces and alcohol and beverages.

Total raised

$6M

Funding rounds

2

Latest round

Seed

Latest activity

Aug 2022