Nigerian fintech startup Bridgecard has raised a US$440,000 pre-seed funding round to expand its user base and build out its platform.
Co-founded by Owumi Festus and Tunde Adewole, Bridgecard merges a user’s cards, bank accounts and fintech wallets into one card and an app, allowing users to perform online transactions, pay bills, and withdraw from any linked account.
After a private beta where Bridgecard launched to 120 users and processed over US$70,000 transaction volume within two months, the startup recently launched publicly. It has now raised US$440,000 in pre-seed funding with the participation of the likes of ABV Fund, Ingressive Capital, Voltron Capital, Venture Platform, Velocity Digital, and Berrywood Capital.
Other angel investors in the round include Johnson Yaya, Kennedy Ekezie and Duke Ekezie from Kippa, and Miracle Anyanwu.
Bridgecard will use the funding to increase the number of bank accounts that can be linked to it, expand to support crypto wallets in supported countries, get the product in the hands of more people, and solve online and card payment issues better.
“We built Bridgecard because it’s quite difficult to have just one bank and even more difficult to manage funds across multiple bank accounts. We wanted to solve this problem by building an operating system for money, one app where you could spend, send, and see the money in all your bank accounts and wallets,” said Adewole.
“We also wanted to provide our users with one card that can support all your online and offline transactions. Bridgecard moved from a mobile app my co-founder and I used to make our lives better to what we got over 5,000 people interested in. We really can’t wait to solve this problem for every African.”
