SecurePay, a leading Nigerian fintech startup, has successfully raised $50 million in Series B funding, marking a significant milestone for the West African financial technology sector.
The funding round was led by Global Ventures Capital with participation from existing investors including TLcom Capital and Future Africa. This brings SecurePay's total funding to $75 million since its founding in 2019.
"This investment validates our vision of financial inclusion across Africa," said CEO Chioma Okwu. "We're democratizing access to financial services for millions of underserved Africans."
SecurePay's platform has processed over $2 billion in transactions and serves more than 500,000 active users across Nigeria, Ghana, and Kenya. The new funding will support expansion into five additional African markets by 2025.
The company plans to use the funds for:
- Product development and innovation
- Market expansion across West and East Africa
- Team scaling and talent acquisition
- Regulatory compliance and licensing