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Pivo Aims to Help Nigerian Freight Carriers with A Bespoke Digital Bank, Gets USD 2M Seed Funding

By ET Bureau - November 25, 2022 1 Mins Read

Pivo, a startup focused on financial services, has announced that it has closed a USD 2 million seed round.

In a statement, Pivo stated that it intended to use the funding to expand outside of Lagos, its first market, and other African nations, particularly in East Africa. It also stated that it planned to hire talent and upgrade and create new products. Pivo+, a collection of value-added services being developed by the company, will transform Pivo into a complete financial services platform.

Also Read: Top 5 Justifications for Creating a Digital Workplace

According to the business, Pivo Capital has given out over USD 3 million to SMEs and has a 98% repayment rate, while the volume of transactions on Pivo Business increased by over 400% between April and September of this year. Since July, the startup has recorded a total volume of USD 4.7 million.

Read More: Pivo powers up Nigerian freight carriers with a bespoke digital bank, gets $2M seed funding

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ET Bureau

The Enterprise talk Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.

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