Nigeria's OnePipe Raises $3.5M to Expand Embedded Finance Platform

OnePipe, a Nigerian embedded finance startup, raised $3.5M in funding announced on November 23, 2021, to expand its platform that enables non-financial businesses such as FMCG startups to offer banking services. The company partners with six banks in Nigeria, providing APIs that allow businesses to embed accounts, payments, and credit products into their offerings. At the time of the raise, OnePipe had processed $46.3M in transactions across more than one million accounts.

The funding will be used to double down on its embedded finance capabilities and expand its reach. OnePipe operates a BaaS-style model adapted for the African market, connecting banks with distribution channels outside traditional banking. This raise highlights the growing adoption of embedded finance models in emerging markets, particularly in Africa where access to traditional banking remains limited.