NowNow Digital Systems secure $13 million seed round to promote new products

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Fresh Nigerian fintech startup, NowNow Digital Systems pulls out a $13M in its seed round to improve financial inclusion across Africa by providing financial services to the unbanked and underbanked in the continent.

The funding round led by NeoVision Ventures Ltd., DLF Family Office, and Shadi Abdulhadi heralds NowNow’s plans to scale and expand its service offerings across Africa.

With the newly secured funds, NowNow will drive financial empowerment as well as introduce new products which will further enhance its already existing consumer banking, agency banking, and merchant payment solutions.

A financial literacy report from the Central Bank of Nigeria (CBN) shows that most Nigerians want training and information on financial concepts such as long-term financial planning, budgeting, financial products and services, risk management, the financial security of their dependents, and insurance. While the CBN’s report reveals that there is genuine interest in financial literacy, it also reveals a significant knowledge gap.

Proceeds from NowNow’s seeding round will focus on improving Africa’s financial inclusivity and help bridge the gap between the banked and unbanked in Nigeria.

The African B2B and B2C FinTech company, recently partnered with the Lagos Business School’s (LBS) Sustainable Inclusive Digital Financial Services (SIDFS) to initiate a financial education and literacy program aimed at driving Nigeria’s financial inclusion growth.

NowNow is on a mission to deliver best-in-class financial services to SMEs, banking agents, and consumers, and to provide financial empowerment to Africans.

Some of NowNow’s customers in Nigeria, have never had a bank account, so it is the company’s social mission to provide the proper educational support. With the funding, NowNow aims to advance the introduction of other innovative solutions in the region to help create a more financially inclusive continent.

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