Nigeria: Bahrain-based Lamar Holding to inject investment into Fintech startup TechAdvance

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Bahrain-based energy investment Lamar Holding will invest $1 million into TechAdvance, one of Nigeria’s Fintech startups.

The investment will help TechAdvance carry out its expansion program across emerging markets, Zawya media reports citing a statement of the Nigeria firm.

Created in 2009, TechAdvance develops payments applications and transformation softwares.

“The payments space in emerging markets is buzzing with opportunities but faces a number of major barriers. These funds will allow us to shift our focus to these opportunities – especially the launch of our digital bank, without compromising our existing business lines,” the firm CEO, Edmund Olotu said in the statement.

Lamar Holding hopes through the operation to make a foray into Africa and broaden its portfolio into the technology industry.

Posted by on August 21, 2019. Filed under Business, News, Zoom. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.