Nigerian invoice-financing startup Zuvy secures  $4.5 million to expand its footprint

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Zuvy, a Nigerian invoice financing startup, has secured a $4.5 million investment in a funding round comprising both equity and debt.

The funding was led by Investment firms TLG Capital and Dunbar Capital  by  including  Chymia Consulting HK, Vicus Ventures, represented by Khalil Osman, and Advent International’s chairman, David Mussafer, among several other investors.

CEO and co-founder Angel Onuoha commented on the mission of Zuvy: “Capital, bound in receivables, restricts millions of small businesses across Africa. Our core mission is to give these enterprises the liquidity they need exactly when needed. This financial agility ensures that SMEs can better navigate cash flow, broaden their customer base, and confidently take on new contracts.”

Zuvy is recognized for its financing capabilities and offering complimentary software solutions for invoice and purchase order management, allowing large businesses to streamline their procurement operations. The company was established in 2021 by Angel Onuoha, a Harvard College graduate, and Ahmad Shehu, Zuvy’s CTO and a previous senior developer at Mono.

With this new Capital, Zuvy plans to broaden its footprint and meet the escalating needs of vendors across Nigeria.