Anchor services consist of an API and tools that businesses can use to build, embed, and launch banking products. Their API capabilities include:
Bank account creation
According to CEO, Segun Adeyemi, the firm has transacted several million for a few companies since they started testing their product in private beta three months ago.
They also have over 40 businesses on a waiting list.
Anchor claims to be transacting several millions of dollars while growing 200% month-on-month.
Anchor is starting out having gathered experience creating and/or working in the sector for the last few years.
Adeyemi was the founder of AmplifyPay in 2015, a startup focused on recurring payments and debit, before it was acquired by Carbon, a digital bank operating across Nigeria, Kenya, and Ghana.
My Co-Founders, Olamide Sobowale & Gbeke Olufotebi, also have deep understanding and shared pain points of what it takes to build a fintech in Africa. This was from their experiences working at the likes of Kuda, Carbon, Appzone, & TeamApt. – CEO, Anchor
He adds that with Anchor, they are working on abstracting away all the complexities in building and launching financial products in Africa. From their beta program in the last 3 months, they believe that businesses are in need of the solution they offer.