Investment firm C-One Ventures has fully acquired Nigerian fintech startup and licensed microfinance bank, Bankly.

A statement from Bankly, the move is part of its strategy to scale technology-driven financial services in Nigeria.

The acquisition includes Bankly’s licenses, platform, and team, which will be integrated into C-One’s growing fintech ecosystem.

Bankly said a restructuring process is already underway to ensure seamless integration, and Bankly’s CEO and co-founder, Tomilola Majekodunmi, will support the transition in an advisory role.

Founded in 2018 by Tomilola Adejana and Fredrick Adams, Bankly began with a “recharge to save” model, allowing users to fund digital wallets via voucher tokens—a method familiar to millions of Nigerians through airtime top-ups.

Since then, Bankly has evolved into a platform offering savings, payments, group contributions, and credit access.

Its services are enabled through an agent network of over 50,000 and a customer base exceeding 2 million individuals and businesses across the country.

In March 2024, Bankly secured $2 million in seed funding, with support from major investors including Flutterwave and Vault, the holding company behind VANSO, which was acquired by Interswitch in 2016.

Speaking on the acquisition, Majekodunmi said, “I am immensely proud of what we have achieved at Bankly over the last six years.

‘Bankly was founded with a mission to drive financial inclusion to the last mile, and we have certainly made significant progress on that front.

“Like any business, we’ve faced our share of challenges, but I’m confident that this acquisition will keep the Bankly vision alive and further advance our mission of empowering more Nigerians through inclusive financial solutions.”