TechAdvance is a Lagos-based payments infrastructure company founded in 2009 by CEO Edmund Olotu that builds payments applications across six platforms (Transfer2Africa, GPay, PayElectricity Bill, Bus.com.ng, Pay.me, and Bill.com.ng). The firm says it is shifting from a technology BPO provider to a player in digital financial services and transportation software. TechAdvance has through subsidiaries acquired a microfinance bank and obtained an approval in principle from the Central Bank of Nigeria for a PSSP license. It also received approval for a payment solution service provider (PSSP) license from the Central Bank of Bahrain. The company secured $1 million in external funding from Bahrain’s Lamar Holding and says the funds will support emerging-market expansion and the launch of a digital bank. TechAdvance was included in the London Stock Exchange Group’s Companies To Inspire Africa 2019 report.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2019