Bankly, a Nigerian fintech company and licensed microfinance bank, has announced the full acquisition of its Nigeria operations by C-One Ventures.
The deal will see Bankly’s services, licenses and talent integrated with complementary offerings from other companies within the C-One Ventures portfolio.
C-One Ventures is an investment company with a specific focus on technology and financing in Nigeria. The company’s existing portfolio includes Fulcrum, a technology and financing platform that unlocks working capital for suppliers in Nigeria through payable finance and other supply chain financing (SCF) products, GetPayed, an all-in-one app for managing payment and banking solutions, and gomoney, a digital bank offering a modern, app-based alternative to traditional banking. The addition of Bankly further strengthens C-One Ventures commitment to technology-enabled financial services for businesses and individuals.
Since it was founded in 2018, Bankly has made significant strides in bridging the financial gap for Nigeria’s unbanked and underbanked populations by offering secure, digital alternatives to informal savings methods like “ajo” or “esusu.” Through its platform and extensive agent network, the company provides services including savings, payments, and access to credit—integrating more individuals into the formal financial system.
With an extensive network of over 50,000 agents nationwide and a customer base of over 2 million individuals and businesses across Nigeria, Bankly has played a pivotal role in advancing financial inclusion and economic empowerment of millions, particularly in low-income and rural communities.
As part of the acquisition, C-One Ventures will take over Bankly’s licenses, onboard its team, and leverage its extensive partner ecosystem. A comprehensive reorganization and restructuring process is currently underway to ensure a smooth integration of Bankly into the C-One Ventures portfolio. Bankly’s CEO and co-founder, Tomilola Majekodunmi, will remain involved during the transition period in an advisory role.
Commenting on the acquisition, Tomilola Majekodunmi stated, “I’m incredibly proud of everything we’ve accomplished at Bankly over the past six years. We founded Bankly with a clear mission to drive financial inclusion to the last mile, and we’ve made significant strides toward that goal. Like any growing company, we’ve encountered challenges along the way, but I believe this acquisition will sustain the Bankly vision and accelerate our mission to deliver inclusive financial solutions to even more Nigerians.”
