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C-One Acquires Nigerian Lender Bankly to Expand Fintech Portfolio

Daba Finance/C-One Acquires Nigerian Lender Bankly to Expand Fintech Portfolio
BREAKING NEWSMay 1, 2025 at 1:59 PM UTC

TLDR

  • C-One Ventures, a Lagos-based investment firm focused on financial technology, has acquired Bankly, a licensed microfinance bank known for digitizing informal savings practices
  • Bankly built a network of over 50,000 agents and claims over 2 million users. The company digitized traditional group savings models
  • The acquisition includes Bankly’s licenses, operations, and team, which will be integrated into C-One’s portfolio of fintech companies

C-One Ventures, a Lagos-based investment firm focused on financial technology, has acquired Bankly, a licensed microfinance bank known for digitizing informal savings practices among Nigeria’s unbanked and underbanked population. The acquisition includes Bankly’s licenses, operations, and team, which will be integrated into C-One’s portfolio of fintech companies.

Founded in 2018, Bankly has built a network of over 50,000 agents and claims over 2 million users. The company digitized traditional group savings models such as ajo and esusu, particularly in rural and low-income areas.

Bankly joins C-One’s growing portfolio, which includes Fulcrum (supply chain finance), GetPayed (payments), and gomoney (digital banking). A transition process is underway, with a structural reorganization to align Bankly under C-One. CEO and co-founder Tomilola Majekodunmi will step back from day-to-day operations but remain as an advisor. Terms of the deal were not disclosed.

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Key Takeaways

C-One Ventures’ acquisition of Bankly marks a strategic consolidation in Nigeria’s fragmented fintech landscape. With millions still unbanked, integrating microfinance operations with digital tools aims to deepen financial inclusion. Bankly’s focus on informal savings and agent networks aligns with C-One’s broader strategy to serve low-income consumers and microenterprises. Combining banking licenses, digital infrastructure, and agent distribution may offer a scalable model for last-mile finance. The acquisition also reflects a growing trend of mergers in African fintech, as companies seek profitability through operational synergies and regulatory access. C-One’s portfolio now covers payments, credit, and savings, targeting financial needs across the ecosystem. As Bankly transitions, maintaining customer trust and operational continuity, especially in rural areas, will be critical to retaining its base and delivering inclusive finance at scale.

Startups
Bankly
C-One Ventures
Acquisition
Fintech
Digital Banking
Investment
Finance
Banking

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