How Nigeria Fintech Brass intend to provide a far-reaching banking solution for African businesses

Nigeria fintech brass

In Nigeria, there are hundreds of Fintech startups providing virtually the same services or even close services, but when it comes to the Nigeria Fintech Brass payments are different, and there are a number of features that make this startup outstanding among others. 

With the proliferated number of FinTechs in Nigeria, many small and medium-sized businesses still face basic challenges in running their financial aspects smoothly. 

Although the Fintech sector in Nigeria has developed over the years, and with the emergence of giant Startups like Paystack, PiggyVest, Prospa, Curacel, Onepipe, Sparkle etc. Brass is coming out to provide a more advanced, all-inclusive financial operations and cash flow support from a single business account.

Without further ado, let’s share a few light on the Nigerian Fintech Startup, giving other Fintech companies a run for their money.

What is Brass?

Nigeria fintech Brass created to provide solutions to financial and operational challenges through improved banking services to small and medium-sized businesses. 

Brass was founded in July 2020 by Sola Akindolu and Emmanuel Okeke. Sola who is now the CEO of Brass used to work as head of product at the first Digital-only Bank in Nigeria Kudi, while Emmanuel who’s now the CTO used to work as engineering manager at fintech giant Stripe. 

The CEOs discover how extremely tedious it is for SMEs to run their businesses in Nigeria. It was hard for businesses to have a stress-free financial operations and cash-flow support services 

Brass payments is a one-stop-shop platform that provides financial services to small and medium-sized businesses.

“There are many ways money can get out of the business, be it payroll, vendor payment, invoicing. We want to support businesses’ cash flow; we want to support them in those areas to make sure that money keeps running and they can keep growing their business,” Sola Akindolu said

What does Brass do?

Nigeria Fintech Brass or Brass payments might look like another traditional fintech startup but it comes with more services to offer.

What sets Brass apart from the regular crop of Fintech startups is their financial operations and cash flow support services available from a single business account.

Brass isn’t your regular Fintech, as it offers a unique variety of financial products like credit and payment services, payroll and cost management. It also offers API support, cash-flow analytics, staff and contact management. 

That’s not all, The Fintech company also engages in other popular aspects of financial technology services such as mobile-money operation service like POS and also debit and credit cards services, and much more

How Brass raise $1.7 million funding

Recently, Brass announced it has secured a $1.7 million investment round to improve its services for African entrepreneurs, traders and fast-growing businesses.

The round was led by Ventures Platform with participation from Hustle Fund, Acuity Ventures and Uncovered Fund. Angel investors such as Flutterwave CEO, Olugbenga Agboola, and Paystack co-founder, Ezra Olubi also contributed to the Brass funding.

Previous backers include Olumide Soyombo of Voltron Capital, Leonard Stiegler and Fola Olatunji-David.

General partner at Hustle Fund, Elizabeth Yin speaking about the investment.

We are excited to back Sola and the Brass team, who are providing critical financial technology to Africa’s businesses, starting with Nigeria’s approximately 41.5 million businesses”

Elizabeth Yin, the general partner at Hustle Fund

What the investment means for Brass

According to Ventures Platform founder, Kola Aina, the startup’s mission to make banking work for small businesses was one reason for their investment. 

He said with this investment, the Startup would be able to provide access to a comprehensive banking solution, which is one of the many difficulties that SMEs face in Nigeria and Africa at large. 

What you should know about Brass

The Fintech startup, in about a year of operating, as of now has over 5,000 customers ranging from schools and malls to restaurants and fintechs such as Eden and Mono, which use its complete banking solution. And unlike other platforms, Brass also wants to optimize its platform for different levels of businesses with varying needs at the same time.

What’s next for Brass?

Brass Capital claims to have provided credit services and disbursed more than $2 million in credit for 24 beta customers after six months. Brass has other startups like float to compete with in this regard, float also provides working capital and application services to businesses. 

That being said, Akindolu said that Brass would use a reasonable part of the funding to expand into more African markets. It plans to take its business to Kenya and South Africa by next year.

 Essential to driving its expansion goals across the African continent is a key partnership with Flutterwave, one of Africa’s biggest Fintech companies that provides payment infrastructure for both local and global merchants. Brass will also diversify its customer base by launching more product categories, especially around credit in its markets.


The African continent formal SME sector has an annual financing gap of over $136 billion. SMEs make up more than 95% of all small businesses in Nigeria. Regardless of the huge size and their importance to Nigeria’s economy, a large number of them do not have access to financial services needed to grow and understand their business. 

Brass payment intends to bridge this gap by focusing on the small businesses and helping them to scale and understand the financial needs each business requires from a single business account. 

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