NowNow Digital Systems, a fintech startup, has raised $13 million in seed funding, in its bid to expand its services and creating new products. The fintech said the funding will further strengthen its operations, comprising consumer banking, agency banking, and merchant payment solutions.
“With the secured funding, we look to not only provide services that include everyone financially but also upscale our agile ecosystem which ensures that our multidimensional offering remains a market leader,” Sahir Berry, the company’s Chief Executive Officer and Co-founder, said.
Berry stated that the credit facility would also support its strategy to advance financial inclusion and independence through financial education.
“The interest and backing of our investors will enable us to grow our world-class team as we would be unveiling innovative products and services.”
According to the investors, the company’s tenacity to grow spurred the funding.
“One of the key elements that propelled us to invest in NowNow through one of our funds is based on the founders’ tenacity to grow the company to a viable level, as well as overcoming many challenges and market cycles since its inception in 2018,” Gary Peters, the managing partner of Capital V Ltd, said.
This is quite laudable, especially as I believe the ripple effect will trickle down to a widened consumer banking base and better livelihood.