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Appzone Group logo — company profile

Appzone Group

Founded 2008 Series A Total: $10.50M Fintech, Information Technology +2

General Information

Company Name Appzone Group
Founded Year 2008
Industries Fintech, Information Technology, Payments +1
Funding Stage Series A
Social

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About Appzone Group

Appzone Group is Africa’s leading FinTech disruptor, offering locally-developed software solutions for the continent’s Financial Services industry. Founded in 2008, the company has grown to a team of over 170 professionals serving clients in seven countries. With an impressive track record of processing over $2 billion in transactions annually, Appzone caters to 18 commercial banks and over 450 microfinance institutions across Africa. The company's platforms issue 1.5 million cards, disburse over $300 million in loans monthly, manage $200 million in deposits, 10 million accounts, and 100,000 transactions daily. Appzone's mission is to fully automate financial services in Africa by automating banking operations, connecting financial institutions, and providing end-users with access to a wide range of banking and payment services. The company is licensed by the Central Bank of Nigeria as a Payment Solution Service Provider (PSSP) and has developed the first and only EMV-compliant card management system in sub-Saharan Africa, as well as the continent’s first self-service platform for instant debit card issuance. The company's achievements include the development and launch of several global firsts from Africa, such as a cloud-based core banking and digital channel software, a global mandate platform for direct debit, and decentralized interbank transaction processing on blockchain. This has led to Appzone being recognized as Africa’s premier FinTech infrastructure provider, winning awards like PCI DSS, CEBIH Award, MWOT Innovators Award, Frost and Sullivan Award, and the NAMB Award. Appzone recently secured a $10.00M Series A investment on 12 April 2021 from investors including CardinalStone Capital Advisers, Constant Capital, Itanna Capital Ventures, Lateral Capital, and V8 Capital. With its impressive growth, innovative solutions, and strong investor backing, Appzone is poised to continue its disruptive influence in Africa’s financial services industry.

Funding Rounds & Investors (5)

View All
Funding Stage Amount Investors Lead Investors Date
Series A $10.00M 5
CardinalStone Capital Advisers Constant Capital V8 Capital
CardinalStone Capital Advisers, Constant Capital +3
12 Apr 2021
Seed Round $500.00K 2
Constant Capital
Constant Capital, Lateral Frontiers
20 Aug 2020
Non Equity Assistance Undisclosed 1
Google Launchpad Accelerator
27 Aug 2018
Seed Round Undisclosed 1
Lateral Frontiers
09 Apr 2018
Corporate Round Undisclosed 1
Business Connexion
11 Jun 2014

Appzone Group Alternatives & Competitors

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Appzone Group vs
CSF International (CSFi)
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Appzone Group vs
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Appzone Group vs
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FAQ About Appzone Group

With a team of over 170 professionals and clients in seven countries, Appzone is Africa’s leading FinTech disruptor and provider of locally-developed software solutions for the continent’s Financial Services industry. Founded in 2008, we process over $2 billion in transactions annually, serving 18 c...
Appzone Group was founded in 2008.
Appzone Group operates in Fintech, Information Technology, Payments and Banking.
Appzone Group has completed 5 funding rounds, raising a total of $10.50M. The latest funding stage is Series A.
Top alternatives and competitors to Appzone Group include CSF International (CSFi), FSS, Advapay, Satchel, Fire. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Appzone Group and CSF International (CSFi) are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Appzone Group, https://bouncewatch.com/company/appzone-group, updated 12 September 2024. When citing, please name BounceWatch and link this page.

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