TechAdvance, a Nigerian payment infrastructure business, has changed its name to Bloc as part of an effort to align the brand with its products.
The company officially released a proprietary suite of APIs known as Bloc a few weeks back, and now intends to bear the same name with it. Bloc helps startups and other organisations build and scale financial services with Fintech/Banking as a Service infrastructure in less time.
According to the company, the decision to become one with its product is in line with its existing mission of building a global infrastructure for the African Fintech ecosystem.
What they are saying
The company said in a Medium post, “Starting today, we transition from TechAdvance to Bloc. It is the first in a series of thrilling news we’ll be announcing over the coming months.”
Brand & Comms Lead Praise Philemon said, “We have grown immensely since the inception of TechAdvance in 2009, from only offering solutions in the utility payments space to becoming the only FinTech/Banking as a Service provider in the country backed by a blend of licenses and certification.
“Our brand has evolved — now committed to powering other FinTech solutions to success with proprietary and aggregated API infrastructure, and we want it to reflect this growth and the relationships we have with our clients.”
The transition process
Edmund Olotu founded the company in 2009, and it has made a significant contribution to the digital industry by offering tools for African Fintech to develop and expand beyond the continent. The company’s branded financial services are well-known. G-Pay Africa, Ace Remittance, Data Analytics, and Transfer2Africa are among them.
All social media handles will be changed to @buildwithbloc as a result of this rebranding. More updates and releases about the FinTech and Banking as a Service suite will be made as the team at Bloc continues to work to unify the brand and its products.
The Banking-as-a-Service API offerings, on the other hand, will stay in beta until Q4 2021, when they will be fully released.
In 2019, Saudi Arabia’s Lamar Holdings invested $1 million in TechAdvance