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· Updated 9 March 2026
Nigerian fintech startup Kippa has raised $8.4 million in a new funding round to expand its digital business and financial management tools for small and medium enterprises.
The oversubscribed round drew participation from Goodwater Capital, TEN13 VC, Rocketship VC, Saison Capital, Crestone VC, VentureSouq, Horizon Partners, and Vibe Capital.
Rapid growth across Nigeria
Since its pre-seed announcement in November 2021, Kippa has expanded to serve over 500,000 merchants across all 774 local government areas in Nigeria. The annualised transaction value recorded on the platform exceeds $3 billion.
“We expect the number of digitally active small businesses to grow exponentially over the next 3 to 5 years. As more small businesses come online, Kippa will own the money button on the devices of these merchants,” Kennedy Ekezie-Joseph, Kippa CEO, said.
Banking licence and senior hires
Kippa has obtained a Super Agent licence from the Central Bank of Nigeria under the Payment Solution Service category, allowing it to turn neighbourhood shops into one-stop outlets for financial services such as cash withdrawals, deposits, and bill payments.
The company has also recruited senior talent from OPay, BharatPe, Khatabook, and NIBSS, including former NIBSS Deputy Managing Director Niyi Ajao as Chairman and Toyin Albert as Executive Director of Payments Services.
Gbenga Ajao is a journalist. He has garnered experience in print, electronic and new media. He is passionate about mobile and web technology.
