Nigerian fintech startup, Bridgecard, has raised a $440, 000 pre-seed funding round to expand its user base and build out its platform.
Co-founded by Owumi Festus and Tunde Adewole, Bridgecard merges a user’s cards, bank accounts, and fintech wallets into one app, allowing users to perform online transactions, pay bills, and withdraw from any linked account.
In addition, they provide a physical card that permits withdrawals from any Nigerian or international bank account as well as a dollar card with a $10, 000 monthly spending limit.
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After a private beta where Bridgecard launched to 120 users and processed over $70, 000 transaction volume within 2 months, the startup recently launched publicly and has now raised $440, 000 in pre-seed funding with the participation of:
- ABV Fund
- Ingressive Capital
- Voltron Capital
- Venture Platform
- Velocity Digital
- Berrywood Capital
According to Tunde Adewalet, Co-Founder / CEO, Bridgecard:
“We built Bridgecard because it’s quite difficult to have just one bank and even more difficult to manage funds across multiple bank accounts.
We wanted to solve this problem by building an operating system for money, one app where you could spend, send, and see the money in all your bank accounts and wallets.”
– CEO, BridgeCard
Other angel investors in the round include Johnson Yaya, Kennedy Ekezie and Duke Ekezie from Kippa, and Miracle Anyanwu.
Bridgecard will use the funding to:
- Increase the number of bank accounts that can be linked to its platform
- Expand to support crypto wallets in supported countries
- Get the product in the hands of more people
- Solve online and card payment issues better
The long-term objective is to become the financial operating system in Nigeria and throughout Africa.
With their team and investors, Bridgecard is prepared to create a long-lasting product and enhance Nigerians’ financial access and management.
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