Iyinoluwa Samuel Aboyeji, a Nigerian serial entrepreneur and investor, has joined Finclusion. Iyinoluwa previously co-founded Andela and Flutterwave, the latter of which became one of Africa’s [five] unicorns in a US$170 million transaction earlier this year. He was selected one of New African magazine’s Top 100 most influential Africans in 2019. Iyinoluwa went on to co-found Future Africa, a company that helps entrepreneurs turn ideas for Africa’s largest problems into global businesses. Taking a shareholding through Future Africa, Iyinoluwa will also join the advisory board of Finclusion Group.
Fintech continues to dominate Africa’s start-up scene, with the sector receiving the majority of funding over the last four years. African fintech start-ups have raised about $900 million in the last six and a half years, more than any other type of startup in the same time span. With Finclusion Group aiming to remain at the forefront of African fintech, it’s only natural to bring in someone as renowned and experienced as Iyinoluwa to help with the company’s continued expansion. Furthermore, Iyinoluwa brings to Finclusion Group extensive West African knowledge and experience, which is essential to the company’s Pan-African ambitions.
Timothy Nuy, CEO of Finclusion Group, adds “Between Matsi Modise, our Chairwoman, and Iyinoluwa we are truly representative of start-ups in fintech across the continent. As it is our mission to drive financial inclusion and wellness in Africa, Iyinoluwa is a great source of knowledge that will help implement the vision and drive growth for the group and productivity for Africa”.
Matsi Modise, Chairwoman of Finclusion Group, welcomes Iyinoluwa “We are excited to continue attracting Africa’s greatest talent to join our advisory channels. We also believe having Future Africa as a shareholder will open doors for future founds of funding”
Finclusion Group is to be Africa’s leading provider of financial technology solutions by utilizing its credit, risk, and technology skills and knowledge to promote financial inclusion and well-being. The financial technology group employs advanced proprietary AI algorithms developed in-house, as well as cutting-edge technology, to provide financial services in a secure and convenient manner, while also preventing fraud, maintaining accurate automated credit decisions, and streamlining overall business operations.
“Finclusion’s mission is personal for me as a financially empowered population is core to an African future where prosperity and purpose is within everyone’s reach. The talented team at Finclusion has built proven solutions to helping the underserved in Eastern and Southern Africa make responsible financial decisions. I am delighted for the opportunity to help Finclusion identify capital, talent and partners to help scale their proven solutions more broadly across Africa” said Iyinoluwa on his joining the Group.
Finclusion Group is working to improve financial inclusion in Africa by developing innovative financial technology services aimed at high-growth market segments and delivering world-class customer service. Its businesses use innovative, patented AI algorithms to grant financial services safely and easily, leveraging their credit, risk, and technology experience. Financial wellness, credit scoring, and direct lending are the company’s current focus areas, with Fractal Labs, smartadvance, niftycredit, niftycover, TrustGro, and Click2Pay operating in South Africa, Eswatini, Kenya, Namibia, and Tanzania under the brands Fractal Labs, smartadvance, niftycredit, niftycover, TrustGro, and Click2Pay.