FinTech Umba raised $15 million in Series A led by Costanoa Ventures


Nigeria-based FinTech Umba raised $15 million in Series A led by Costanoa Ventures where Lux Capital, Palm Drive Capital, Banana Capital and Streamlined Ventures, as well as previous investors, including Lachy Groom and ACT Ventures with angel investment from neobanking pioneers Monzo founder Tom Blomfield, and executives from NuBank also participated.


Umba provides a diverse range of transparent and accessible financial products to Africans who are underserved by legacy banks. The new funding will enable Umba to expand its operations and product offerings in Nigeria, as well as prepare to enter new markets such as Egypt, Ghana, and Kenya. Umba is also introducing new products such as debit cards, savings accounts, and stock trading.

5 views0 comments