Mobile banking app Fundall closes its pre-seed on $150,000

Nigeria-based Fundall, a mobile banking platform, has closed its pre-seed funding round on $150,000 to support its launch.

The capital injection was led by Black Knight Capital.

Equity from the round will also be used to support the acquisition of a microfinance bank, form partnerships with financial institutions and double the size of the team.

Fundall founder Kolapo Joseph said, “We started Fundall to be a financial partner that helps everyone build generational wealth & grow their businesses through sound financial decisions & finance tools powered by Behavioural Economics and customized to their lifestyles.”

The FinTech provides a mobile banking platform, with users able to complete automated savings, create budgets, track spending, access loans, access insurance and more. Individuals and businesses can both make accounts through Fundall.

In addition to transferring funds, request money, pay bills, businesses can also manage employee profiles, schedule payments, pay invoices and manage inventory.

Fellow Nigerian FinTech startup FinTech Wallets Africa recently closed an investment to support its expansion across Africa.

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