Budding Nigerian financial technology firm, TeamApt, has disclosed ongoing plans to expand its oepration into Latin America countries by the third quarter of the year.
The company’s Founder and Chief Executive Officer, Mr Tosin Eniolorunda, made the disclosure recently during an interview. According to Mr Eniolorunda, the company intends to push growth in other areas and expand its internal operations.
The company recently raised $5.5 million – TeamApt, which was founded in 2015, develops digital banking and payments infrastructure solutions. In February this year, it raised the sum of $5.5-million in a Series-A round led by Nigerian private equity firm Quantum Capital Partners, last month.
The money will facilitate the expansion effort – Mr Eniolorunda Techcrunch that it will use the funding to expand its white label digital finance products and pivot to consumer finance with the launch of its AptPay banking app.
Already present in such African countries as Ghana, Kenya, Liberia, and South Africa, TeamApt is also looking to enter Senegal, Cameroon, and Ethiopia by the second quarter of this year and Latin American country by the third quarter, with plans to scale to Canada and the US by the first quarter of 2020.
How was TeamApt founded – TeamApt CEO Eniolorunda speaking with Ventureburn said he always had a niche for fixing things and have always seen himself as an engineer and entrepreneur.
Starting his tech entrepreneurship right from his junior secondary school, where he fixes electronics, to his university days where he sells hardware and software projects to fellow students even companies, Eniolorunda said all that grew his entrepreneurship drive.
In 2009, Eniolorunda joined Interswitch, a Lagos-based payment processing firm as a software engineer, and in 2014 he was raised to the position of a product manager.
While he was at Interswitch, he designed and built a virtual machine for point of sales (POS). Through the knowledge he got with the project, Eniolorunda became more interested in creating value to financial prosperity.
Afterward, he added he left Interswitch to start up his own firm TeamApt in other to maintain his identity and follow his dreams.