Fintech firm records N1.4tr transactions in 1 month

A financial technology company, TeamApt, processed 68 million financial transactions worth N1.4 trillion ($3.5 billion) in May 2021.

The company provides financial services for the underserved mass market through Moniepoint (its product, and Monnify (its payment gateway infrastructure).

• 774,000 jobs: FG directs banks to pay participants
• Group releases names of 1,499 killed in 10 years

The TeamApt CEO and Founder, Mr. Tosin Eniolorunda made this known at a virtual media conference yesterday.

He said between April 2020 and April 2021 the total value of transactions processed has gone up to $16bn.

Eniolorunda said in March 2021, TeamApt hit a milestone of transactions worth over N1tr ($2.4bn) for the first time.

“In May, the value of transactions increased toN1.4tr ($3.5bn) with 68m transactions in volume, and between April 2020 and April 2021, the total value of transactions processed has gone up to $16bn.”

A SANEF report, an initiative of the Central Bank of Nigeria (CBN) governing agent banking in Nigeria, showed that TeamApt accounts for 74% of the agent banking industry, monthly.