The Raba Partnership has led a $2.1 million seed funding round for Thepeer, an African tech Startup that links the wallets of businesses.
Other investors in this project include BYLD Ventures,Rail cap Ventures, Timon Capital, Stitch African fintech like Stitch and Chipper cash ,Uncovered Fund, Sunu, and Musha
Kosisochukwu Chike Ononye (Chief Executive Officer ), along with Michael Okoh (Chief Technology Officer) started Thepeer in August 2021 to simplify and reduce the cost associated with transferring funds between mobile wallets.
Thepeer is an Application programming interface company that helps its clients, the majority of which are fintech, medium and small-sized businesses, to enable their customers wire funds across their various wallets, fund their accounts from other businesses and make payments conveniently using their wallets.
In Africa, about six hundred fintech corporations run separate wallets. We want to make it possible for any wallet to connect and make payments. The CEO of Thepeer, Ononye, said, “We are making an operating system such that firms can offer their clients more services.
Since the company began operations in August last year through the first quarter of 2022, it has reportedly seen a 161 per cent increase in the number of MoM transactions per month.
Thepeer only works in Nigeria now, but it will use the new money to grow into other African countries like Egypt, South Africa, and Kenya.