San Francisco-based Susa Ventures in Nigerian deal
Nigerian fintech platform Okra has secured a $3.5 million seed raise. The round was led by US-based Susa Ventures, with participation from existing investors TLcom Capital, and newly joined Accenture Ventures. This comes just under a year from closing its $1 million pre-seed round with only TLcom Capital participating in the round. This brings Okra’s total funding at seed to $4.5 million. The capital will be deployed to expand Okra’s data infrastructure across Nigeria.
Founded by Fara Ashiru Jituboh and David Peterside in January 2020, Okra’s Open Finance platform is the digital transformation tool for businesses in Africa and its API enables developers and businesses to build personalised digital services and fintech products for customers. Since launch, the fintech infrastructure company has provided its services to financial institutions, startups and government agencies including Interswitch, Access Bank, uLesson, Aella App (YC W17) and over a 100 digital-first platforms.
Fara Ashiru Jituboh, Okra co-founder and CEO/CTO says, “We build the tools that businesses need to achieve full digital transformation and we are excited to be welcoming some highly strategic global investors as we scale our open finance-as-a-service operations. The opportunities to collaborate and grow together are significant and we are now in a strong position to continue to build and scale in the African, and global API space.”
Leading the round, San Francisco-based Susa Ventures is known for its early investments in Robinhood, Flexport, Andela and Fast. Susa is also known for co-investing with firms like Peter Theil’s Founders Fund, Index Ventures, Kleiner Perkins, GV (Google Ventures), General Catalyst, Andreessen Horowitz and Accel Partners.
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