The Fundall startup aims to provide investment services, savings accounts, and short-term loans. The company was launched in May 2021 serving as an e-commerce platform that offers credit and debit card solutions. Furthermore, the user can access a variety of financial services from the app.
Co-founder
Taiwo Obasana is the co-founder and CEO of a young startup. His main objective was to create an educational platform to offer advice on financial services. Lately, it began helping clients to get access to a variety of products. The user can also view his or her liabilities and assets.
In an interview with Disrupt Africa, Taiwan opened up about the diversity of his company. “The startup has undergone diverse pre-launch product ideation and iteration. Finally, it has developed a well-tailored product for young Africans. Their focus is to create access to premium financial services. They also help young Africans build and scale their micro-businesses and side hustles.”
Fundall is still raising capital to expand its business. The CEO has a big vision to enter and control the African stock market. Fundalls make a lot of money through interest from borrowed loans. In addition, the investment returns increase the company’s income.
Investment plans
The company announced a pre-seed investment plan of around $150,000. Most of the investment is from the Black Knit Capital and angel investment outfits. Investors have identified Fundall Fintech as one of the best-growing startups to change the country, if not the world. It’s always a better idea to invest in the company during its early stages. This forms a strong bond between the investor and the owners.
To strengthen its operations, Fundall wants to acquire microfinance banking. They are working to get a license to be free from customer service expectations and regulations.
During the Beta phase, the company had only $200 million deposits. This served a total of almost 10,000 members only. But with the new plan, the startup is looking forward to gaining more traffic, a report by businessday.
In October last year, the company launched its banking product. Currently, they want to strengthen the road-to-market service for their Corporate and SME banking. The development took one month and by November, they started operating SME banking. A report from the company proved that Taiwo is still building bridges across the country.
He wants to manage money from millions of Nigerians. People must grow their businesses as they make passive income.
Fundall acts like a personal financial partner. It provides an automated banking experience. This looks like a good freestyle life to those who hate walking to the banks.
Behavioral economics and Artificial intelligence
The companies application and software are powered by behavioral economics and artificial intelligence. Machine learning has made the company do away with complex processes. The platform is user-friendly and relatable. Fundall is working towards having no paperwork in the upcoming years. Also, they have promised to lower their financial fees to double access to some premium financial fees. Feel free to experience richer financial experiences across the world, a report by disruptafrica.
“Your bank. Indeed,”, is the company’s slogan. It’s the first startup to provide smart features while solving common financial problems to every member of society. Their software can send daily reminders signaling to people about debts. Also, you can send money to various people even without their account details.
Many other companies have congratulated Fundall for its future visions. The startup wants to gain the trust of small businesses and individuals to increase its users. The CEO keeps on raising money to offer loans to those people who want to run their business. They will also increase their products and services on their platform. As time goes by, they will shift to other countries in Africa before peeping through to the rest of the continents.
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