Sparkle is a Nigerian neobank that combines personal banking, business banking and lifestyle services on a single platform. The app offers savings, bill payments, top-ups, transfers, bill splitting, spending breakdowns and features like transaction-by-beneficiary history, location confirmation and scheduled payments. In April Sparkle launched Sparkle Business to serve SMBs with inventory and invoice management, tax advice, payroll and employee management accessible with just a TIN and email. Since launching last year Sparkle has acquired over 40,000 individual customers and 2,000 businesses, and it operates under a microfinance bank license. The company has partnerships with Visa, Network International and PwC Nigeria. Sparkle has begun charging individual customers small account fees and plans to charge businesses for most features while keeping taxation services free. Future plans include building robotic process automation and hiring across engineering, finance, risk and marketing.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2021