The combination of Accenture Ventures, Susa Ventures and TLcom Capital has invested a $3.5million seed raise in Nigerian fintech platform and Open Finance (API Economy) pioneers, Okra.
While TLcom Capital is an existing investor in Okra, which has invested $1m pre-Seed round last year, the recent investment bringing Okra’s total funding at seed to $4.5m was lead by US-based Susa Ventures, with newly joined Accenture Ventures.
ITPulse can understand that the capital will be deployed to expand Okra’s data infrastructure across Nigeria.
Speaking on the investment, Fara Ashiru Jituboh, Okra co-founder and CEO/CTO says, “We build the tools that businesses need to achieve full digital transformation and we are excited to be welcoming some highly strategic global investors as we scale our Open Finance-as-a-Service operations. The opportunities to collaborate and grow together are significant and we are now in a strong position to continue to build and scale in the African, and global API space.”
Okra was founded in January 2020, as a digital transformation tool for businesses in Africa and its API enables developers and businesses to build personalized digital services and fintech products for customers.
Since launch, the fintech infrastructure company has provided its services to high calibre financial institutions, startups, and government agencies including Interswitch, Access Bank, uLesson, Aella App (YC W17) and over 100 digital-first platforms.