Nigeria fintech startup TeamApt is planning an expansion to Ghana with its third round of funding. The company is planning on raising $150 million in its third round of funding at a value of $1 billion.
The company plans on using the funds to expand to Ghana, Egypt, and Cameroon and building out its digital banking product.
TeamApt is trying to address the issue of lack of financial infrastructure for a rapidly growing and tech-savvy youth population by using mobile technology and authorized agents to give people banking services such as cash deposits and fund transfers.
If their new funding round is successful, TeamApt will achieve “unicorn” status and join other companies including Flutterwave, OPay, and Jumia Technologies with a value of over $1 billion.
TeamApt now processes $3.5 billion in transaction values monthly, with 150,000 agents on its platform, and has 14 million users.