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# Nigerian fintech startup TeamApt raises over $50 million in funding
- URL: https://www.techloy.com/nigerian-fintech-startup-teamapt-raises-over-50-million-in-funding/
- Published: 2022-08-10T14:54:02.000Z
- Updated: 2022-12-07T21:11:14.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Fintech, Tech in Nigeria

[TeamApt,](https://teamapt.com/) a Nigeria-based financial technology startup has raised over $50 million in funding from QED Investors, a US fintech-focused capital firm.

- The fund will be used to widen the startup's credit offering, it claims.
- Founded in 2015, TeamApt builds financial platforms for businesses including payment, banking, credit and business management tools.
- It processes a $100 billion annualized run-rate transaction value through its products: Moniepoint and Monnify. Monnify is currently used by over 400,000 small and medium businesses in Nigeria providing them features to manage business operations.
- The fintech raised $100 million in annualized revenue last year and looks to expand into international geographies in the coming months.
- Lightrock, BII, and Novastar Ventures participated in the round.