Bankly is well known for serving Nigeria’s unbanked and underbanked populations.

The deal includes Bankly’s full operations, regulatory licenses, and staff, who will now become part of C-One Ventures’ growing fintech portfolio.

 

This portfolio already features brands like Fulcrum, a platform for supply chain financing; GetPayed, a payments and banking app; and gomoney, a digital banking service.

Bankly, launched in 2018, earned recognition for bringing digital solutions to traditional savings practices such as “ajo” and “esusu,” mainly supporting rural and low-income Nigerians.

 

The company, which raised $2 million in seed funding in 2021, currently boasts over 2 million customers and a network of more than 50,000 agents across the country.

The acquisition signals C-One Ventures’ intention to unify its financial services under one umbrella, aiming to better serve individuals and small businesses across Nigeria’s diverse financial sectors.

A transition is already in progress. As part of the changes, Bankly will undergo a reorganisation to align with C-One’s structure.

 

Tomilola Majekodunmi, Bankly’s CEO and co-founder, will step away from day-to-day leadership but will continue supporting the company in an advisory role.

Reflecting on the journey, Majekodunmi said:

 

“It has been an incredible six years. Our mission was to push financial inclusion to the very last mile, and we made meaningful progress toward that goal. Though we faced challenges, I believe this next chapter will keep the Bankly mission alive and help bring financial services to even more Nigerians.”

Majekodunmi also highlighted Bankly’s achievements, noting that with just $1.7 million in funding, the team built two licensed companies, grew annual revenues to $5 million, deployed over 17,000 branded POS terminals, banked more than 250,000 users, and processed over $1.2 billion each year. 

“It has been a journey filled with building, learning, and growing,” Majekodunmi added. “I’m grateful for everyone who has been part of this story. The best is still to come.”