Nigerian super financial app, Yep!, has secured $1.5 million in a new investment round led by pan-African VC Greenhouse Capital.

The startup was founded by Olaoluwa Awojoodu, Yep! provides customers with payments, remittances and other banking features.

According to the startup, the funds will be used to promote plans for expansion as the founder has disclosed that the plans to expand into five major markets where E-Settlement is present are on the way. The expansion plans are important to enable it serve digital financial services to consumers, small business owners and merchants across broad and thereby facilitating financial inclusion.

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Speaking about the super app, Awojoodu said: “We want to bank the guys in Lagos as well as bank the guys in a village at Ikot Ekpene. And at the same time, not just Nigeria, we are also looking at a full African play. So it’s just really that financial access for Africans, not just the guys that are digitally enabled, but even the guys that are off the digital channels, we are going to bring everybody into the digital environment using both digital tools and agent networks.”

It is estimated that over 42 million Nigerian adults living in rural areas have no access to basic banking services. However, agency banking is leading to solving this issue in the African countries where they are located. Agency banking fosters financial inclusion, however, there is still a need for the underserved to be brought into an all-around digital ecosystem that provides access to the full spectrum of financial services

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