In 2020, Nigerian FinTech startup OnePipe announced that it had raised $950 in pre-seed investment. The investment round, spearheaded by Techstars New York accelerator program, was raised by some reputable early-stage funds including Atlantica Ventures, Ingressive Capital, Sherpa Ventures and DFS Lab.
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Given the unique solution OnePipe is offering to African startups, these investors were impressed enough to support its vision.
“Digital infrastructure ‘rails’ from identity to payments to lending in Africa have matured significantly in the last few years; there are a ton of exciting new possibilities for startups built on top of them and we hope startups like OnePipe and their peers are able to be that layer, that accelerant, to drive more startups in Africa to leverage on the infrastructure that industry leaders and other startups have built, to create the next big thing on the continent.”
said Aaron Fu, co-founder of Sherpa Ventures.
What is OnePipe And What Is Its Appeal?
Ope Adeoye, CEO of OnePipe, worked at Interswitch as a senior software engineer from 2006 to 2008 before leaving to join telco, Zain Nigeria.
The next year, Adeoye returned to Interswitch, where he took on a variety of tasks in the company’s consumer and mobile services department, in what he refers to as his “second coming.” Until 2015, he also managed the product and business unit. He worked in the strategy, mergers, and acquisitions branch from then till his departure in 2017.
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Adeoye was instrumental in creating and running the Quickteller product line unit at Interswitch before passing it off. He also played a role in the company’s acquisition of financial services firm VANSO during his two years at strategy, mergers, and acquisitions.
In 2018, Adeoye established 2i Labs after his 11-year stint at Interswitch Nigeria. He and his team worked on ideas for startups that they could support and grow into thriving businesses. However, 2i Labs would only last a year, leaving OnePipe, one of the team’s incubated ideas. Adeoye and his team founded OnePipe in November 2018 to make collaborations between fintech and banks and large corporations, more seamless.
Since its launch, OnePipe has partnered with many banks and businesses, including Polaris Bank, SunTrust Bank, Fidelity Bank, Providus Bank, Migo, Flutterwave, Paystack, and Quickteller, among others.
OnePipe offers API technology that addresses multiple issues for banks, lenders, and average customers at the same time. While startups such as Okra, Mono, and Pngme also provide such solutions, OnePipe stands out for its robust and diverse API technology. The business assembles its APIs through collaborations with direct bank APIs as well as third-party APIs like Mono.
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