Wallets Africa, a Nigerian-based fintech startup raises an undisclosed round of investment. Wallets Africa was founded in 2018 and eases transactions around the continent without having to worry about current barriers. Transactions are facilitated using the app or a card. John Oke, the founder and CEO of Wallets Africa aims to be the continent’s foremost borderless digital platform.
Wallets Africa as a concept, John Oke a software engineer came up with while working for a gift voucher company. The company’s backend was integrated with the mobile money platform M-PESA to enable payments at malls or to receive tickets at IMAX cinema Nairobi.
In an interview with Techpoint Africa, Oke expressed,
“The epiphany I had was that very soon all financial transactions would be done through digital wallets. If it could happen on the Internet with PayPal and offline in Kenya, it could happen here in Nigeria.”
Oke has 18 months’ worth of experience consulting and working for banks and fintech companies such as Interswitch. This has earned him some experience in the financial space.
Wallets Africa released their beta in January 2018, allowing users to pay bills, buy airtime, and make bank transfers. The platform also helps in issuing prepaid virtual dollar cards for people fixated on Amazon and Netflix.