Nigeria’s Sparkle, Wicrypt get VC cheques; PaySika nabs pre-seed funding

 Nigeria’s Sparkle, Wicrypt get VC cheques; PaySika nabs pre-seed funding

Sparkle founder Uzoma Dozie

Sparkle, a Nigerian neobank founded by former Diamond Bank chief Uzoma Dozie, has raised $3.1 million in a seed funding round led by Leadway Assurance, Trium Network and some unnamed angel investors.

The venture had previously attracted pre-seed round worth $2 million from friends and family.

Sparkle claims it has 40,000 customers on the individual banking side and 2,000 small businesses on its network since it started operations a year ago.

While the fintech space is seeing turbocharged activity, the neobank domain has seen multiple players emerge and attract significant amounts of venture funding this year alone. These include Kuda and Fairmoney, besides Tyme.


Blockchain-based Wi-Fi sharing startup Wicrypt has bagged $1.5 million funding led by AU21 Capital.

Polygon founder Sandeep Nailwal, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, Cardano and PolkaFoundary also took part in the round.

The three-year-old Nigerian venture allows users to get paid for sharing their Wi-Fi. Users can share their Wi-Fi via Wicrypt routers or their mobile phones.


PaySika, a neobank born in Francophone Africa, has raised $350,000 in pre-seed round from angel investors in Europe and Nigeria.

Co-founded by Roger Noel Nengwe (CEO) and Stezen Bisselou-Nzengue (COO), PaySika offers banking services not just on an app like most neobanks, but also on their messaging apps.

The startup is yet to formally launch but claims it has over 20,000 pre-registrations.

Vivek Sinha

The Capital Quest