Nigeria’s TeamApt to expand to Latin American countries this year

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TeamApt, a Nigerian financial technology firm, has announced plans to expand its operation into Latin American countries by the third quarter of 2019.

The Chief Executive Officer of TeamApt, Mr Tosin Eniolorunda, who disclosed the development during an interview, said the company intends to push growth in other areas and expand its internal operations.

The company was founded in 2015 and it focuses on developing digital banking and payments infrastructure solutions. In February 2019, the financial technology firm raised a sum of $5.5 million in a Series-A round funding led by Nigerian private equity firm, Quantum Capital Partners.

Eniolorunda noted that the money raised last month will be used to to expand its white label digital finance products and pivot to consumer finance with the launch of its AptPay banking app.

TeamApt is already present in countries such as Ghana, Kenya, Liberia, and South Africa, but is looking to  enter Senegal, Cameroon, and Ethiopia by the second quarter of 2019, as well as Latin America by the third quarter of 2019. The company also has plans to scale to Canada and the United States by the first quarter of 2020.

Eniolorunda left Interswitch as a product manager to start up TeamApt, in a bid to follow his entrepreneurship drive, maintain his identity and follow his dreams.


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