Nigeria: Fintech WallX enables online transactions through its mobile app

By : Adoni Conrad Quenum

Date : mardi, 26 septembre 2023 14:39

The solution was co-funded by a Nigerian-born entrepreneur who spent the bulk of his professional career working for international IT firms. 

WallX is a fintech solution developed by a Nigerian startup of the same name. It enables users, both individuals and corporate entities, to send and receive money, receive payments, and settle online transactions.  The startup, based in Lekki in Lagos State and New York in the USA, was founded in 2020 by Richmond Ogigai and Subomi Jegunmah.

"I had seen firsthand the experiences of small business owners when it comes to payments and how their businesses eventually die out because they don’t have the basic tools or knowledge to build out their businesses. [...] Things like smart digital payment tools, record keeping, hiring, and sales management, are still very much done in a very manual way, and they end up running your business down," says Richmond Ogigai.

The solution features a mobile application accessible for Android and iOS devices. Once downloaded, users must create an account to access the various services it offers. Both individuals and companies can generate payment links as well as PIN codes to easily collect merchant payments or gift vouchers, pay electricity bills, buy airtime, or make monetary contributions such as participatory financing.

Since its launch, the Android version of the mobile application has already been downloaded more than a thousand times. WallX has been selected for the Spring 2023 cohort of New York accelerator Starta. It is also one of the 12 startups selected for the second cohort (2023) of the Fast Accelerator program supported by Microsoft.

Adoni Conrad Quenum


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