Nigerian fintech startup TeamApt has announced it will be shifting its focus from delivering financial services products to banks to delivering products for consumers and businesses, as it aims to build on a strong performance in 2020.  The Lagos-based fintech company is also exploring opportunities to deliver financial services for underserved individuals and businesses in other countries in West and North Africa. Launched in 2015, TeamApt was formed to solve inefficiencies in Nigeria’s growing digital financial services market, and has a variety of products. The startup counts 100 per cent of the country’s commercial banks amongst its customers and in 2019 secured a switching licence from the Central Bank of Nigeria (CBN) as well as a US$5.5 million funding round. In 2021, however, it will focus on building products that make it easier for individuals and businesses to access financial services, as well as growing its agent network and other touchpoints for its existing products – Moniepoint and Monnify.

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