By Pascal Oparada (Social Media/Tech Reporter)
Lagos based online lending platform, OneFi has acquired Nigerian payment solutions company, Amplify, for an undisclosed amount.
OneFi is taking over Amplify’s IP, team, and clientele of over 100 merchants to which Amplify provides processing services, says Chijioke Dozie, OneFi’s CEO.
Over the last seven months, OneFi has raked in over $5 million in lending facilities from Lendable, announced partnerships with Visa and became one of the first known African startups to receive a global credit rating.
This pivots OneFi away from operating primarily as a digital lender, toward becoming an online consumer finance platform.
“We’re not a bank but we’re offering more banking services … Customers are now coming to us not just for loans but for cheaper funds transfer, more convenient bill payment, and to know their credit scores,” said Dozie.
The company will add payments for clients on social media, including WhatsApp this quarter. Through its Visa partnership, OneFi will also offer clients virtual Visa wallets on mobile phones and start providing QR codes payment options at supermarkets, restaurants, and in public transit, and across other POS points in Nigeria.
