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Nigerian fintech startup OnePipe secures $4.8m credit facility, lays off staff

Nigerian fintech startup OnePipe secures $4.8m credit facility, lays off staff

#fintech
#employment
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Nigerian fintech startup OnePipe has secured a US$4.8 million credit facility from TLG Capital, which it will use to provide inventory finance to small shops, while at the same laying off an undisclosed number of team members to extend its runway.

Nigerian fintech OnePipe has secured a $4.8m credit facility from TLG Capital, which it will use to offer inventory finance to small shops. The start-up plans to provide credit and payment services to the estimated two-thirds of Nigerian business owners without access to effective and practical banking services. OnePipe aggregates APIs from banks and fintechs into a standardised gateway that is easy to integrate and makes partnerships seamless. However, the company also laid off a number of employees while its executive team took a pay cut.


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